FXON's technical analysts provide market reports in the form of columns on the most recent foreign exchange market movements, based on world news and economic activities. Please take a look at it as a reference for your trading.
2025.03.19
[March 19] Bank of Japan's monetary policy maintained, almost uneventful. Waiting and watching ahead of the U.S. FOMC?
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 19), the middle line is nearly horizontal, indicating a state without clear directionality.
2025.03.18
[March 18] Yen selling continues with 150 yen approaching
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 18), it shows an upward Bollinger Band walk after breaking out of its range. If it exceeds the critical level of 150 yen, it's likely to continue pursuing higher prices.
2025.03.17
[March 17] Markets inch above 149 yen ahead of U.S. and Japanese monetary policy meetings
Today the USDJPY touched a low of 148.46 yen around GMT 23:00 (on March 16), then fluctuated while making new highs, and is currently rising in the 148.9 yen range as of GMT 04:00.
2025.03.14
[March 14] Risk caution mood eases somewhat. Dollar buying resumes pushing rate into 148-yen range.
Today the USDJPY reached a high of 148.43 yen shortly after GMT 01:00, then fell back once, but as of GMT 04:00 is rising again in the early 148-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on March 14), it has broken above the range, and the middle line is also starting to show an incline. The immediate target appears to be 149 yen.
2025.03.13
[March 13] Breaking above 149 yen was momentary, while the decline has paused, once again creating an unclear atmosphere
Today the USDJPY reached a high of 148.37 yen around GMT 23:00 (on March 12), but comments from BOJ Governor Kazuo Ueda raised expectations for a rate hike, causing it to fall below 148 yen shortly after GMT 04:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:30 on March 13), the rise has slowed down, with fluctuating downward movement. It has become difficult to read the directional trend.
2025.03.12
[March 12] USDJPY decline pauses, gradually rising above 148 yen
Today the USDJPY has been somewhat firm since the opening. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 12), if it breaks above the resistance line around 148.20 yen, the next target seems to be 149 yen.
2025.03.11
[March 11] USDJPY continues to pursue lower levels. Risk-averse atmosphere permeates the market.
Today the USDJPY fell directly after the open, and hit a low of 146.54 yen shortly after GMT 23:30 (on March 10). Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 11), it continues to make lower lows while fluctuating. The trend of not being able to exceed the previous day's high continues, so it seems appropriate to maintain a downward perspective.
2025.03.10
[March 10] Possibility of U.S. economic recession is not denied, future uncertainty continues
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 9), the middle line has become almost horizontal, making it difficult to grasp the direction. It seems better to be cautious about the price breaking below the March 7 low rather than breaking above the March 7 high.
2025.03.07
[March 7] USDJPY enters 147 yen level as it struggles to move higher ahead of U.S. employment statistics
Today the USDJPY reached a high of 148.16 at GMT 00:00, and a low of 147.44 around GMT 03:30. Uncertainty about the economy regarding tariffs and speculation about a Bank of Japan rate hike are supporting yen buying. Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on March 7), the middle line is downward sloping, indicating a downward trend.
2025.03.06
[March 6] Weak U.S. economic indicators lead to soft USDJPY. Awaiting tomorrow's employment statistics.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 6), it shows a narrowing band width while repeating ups and downs, creating a situation where the directional trend is difficult to see.
2025.03.05
[March 5] Market fluctuations due to Trump's remarks. Slightly bearish but limited movement.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on March 5), the support line at around 150.20 has become a resistance line. If it breaks above this level, an upward trend may develop in the short-term.
2025.03.04
[March 4] Trade war and Ukraine situation: Risks flare up again without time to settle
Today the yen strengthened due to risk aversion after reports emerged that the U.S. would completely halt military support to Ukraine. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 4), it shows a downward band walk, touching -1 standard deviations before falling again. The downward trend appears likely to continue.
2025.03.03
[March 3] USDJPY touches 151 yen but cautious mood subsides, careful about chasing higher prices
Today the USDJPY reached a high of 151.02 yen around GMT 23:30 (on March 2), but dollar buying retreated as concerns over the Ukraine situation eased, and as of GMT 04:00, it is in the lower 150-yen range.
2025.02.28
[February 28] Bank of Japan's movements and Trump tariffs, market waits cautiously caught between concerns
Today yen selling strengthened following the weak results of the February Tokyo Metropolitan Area CPI announced at GMT 23:30 (on February 27), reaching a high of 150.14 yen around GMT 00:00, but reached a low of 149.09 yen shortly after GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 28), it continues to show directionless movement, fluctuating from the upper 148-yen range to the 150-yen range.
2025.02.27
[February 27] Risk vigilance spreads, USDJPY slightly weakens
Today the USDJPY touched a low of 148.74 yen just after GMT 23:30 (on February 26) amid cautious sentiment regarding 25% tariffs on the EU. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 27), it is trading within a range of plus/minus 2 standard deviations without direction.
2025.02.26
[February 26] Ongoing battle across the 149 yen level in USDJPY, direction remains ambiguous
Today the USDJPY turned upward after hitting a low of 148.62 yen shortly after GMT 23:00 (on February 25), and as of GMT 04:00, it is moving in the mid 149-yen range.
2025.02.25
[February 25] Buybacks progress but unable to maintain above 150 yen
Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on February 25), it has been pushed back after exceeding +2 standard deviations, but if this decline becomes a dip, there is a possibility of pursuing higher prices beyond last week's high of 150.73.
2025.02.24
[February 24] USDJPY falls below 149 again--potential for further downside movement
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 24), the recovery after the decline has been weak, suggesting the possibility of resuming the downward Bollinger Band walk that was temporarily interrupted. With the middle line also trending downward, the downward trend appears likely to continue.
2025.02.21
[February 21] Sharp rebound from below 150 yen. Market continues to swing on officials' comments.
Today the USDJPY touched a low of 149.27 around GMT 23:30 (on February 20), then sharply rebounded following comments from BOJ Governor Kazuo Ueda. Around GMT 02:30, it reached a high of 150.73. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 21), while the sharp rebound temporarily exceeded +2 standard deviations, unless the price breaks above the recent high of 150.73 again, the downward trend appears likely to continue.
2025.02.20
[February 20] USDJPY falls below 151 again as yen buying continues
Today the USDJPY has fallen below 151 as yen buying dominates due to uncertainty surrounding peace negotiations for the Ukraine war and expectations of additional Bank of Japan rate hikes. As of GMT 04:00, it is trading at 150.36. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on February 20), it has broken below the February 7 low of 150.93. The downward trend appears likely to continue.
