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.
2024.04.10
[April 10] Sluggish price movement as the market waits for the CPI. Will there be signs of inflation retreating?
Today the USDJPY opened at 151.74, but although it had hit a high of 151.80 as of GMT 05:00, volatility remained low. Looking at 1-hour chart of the USDJPY (as of GMT 05:15 on April 10), the price has rebounded slightly from the lower 2-standard deviation Bollinger Band.
2024.04.09
[April 9] Price's struggle to move higher below 152 yen may continue until tomorrow's CPI
Partly due to the lack of economic indicators or other events yesterday, the USDJPY traded lethargically throughout the day. After opening at 151.56, the price went on to hit a high of 151.94 at around GMT 13:00.
2024.04.08
[April 8] The USDJPY rebounded from the low of Thursday to the upper end of the 151.5 -152.0 range, driven by positive employment data
On Friday of last week, the USDJPY reversed after touching a low of 150.81 in the morning, and recovered to break above the 151-yen level during London trading hours.
2024.04.05
[April 5] Downward trend that began after price plunged overnight remains in force. Employment figures lie ahead
Price action in the U.S. dollar-Japanese yen was subdued throughout Tokyo and London trading hours yesterday, and for the first half of the New York session, but the price began to plunge in the second half, at around 3 a.m., and broke through the low of the day.
2024.04.04
[April 4] Attempt to hit a new high following yesterday's spike is knocked back
Yesterday, the U.S. dollar-Japanese yen rate continued its attempt to reach new levels, and hit a high of 151.95 before 11 p.m. However, the price was unable to get to 152, and by around 1:30 a.m. on April 4 it had fallen back to 151.57.
2024.04.03
[April 3] Price movement lacking in vigor ahead of Friday's employment data
Yesterday, the U.S. dollar-Japanese yen rate hit a high of 151.80 a little time after 2 p.m., then fell back to mark a low of 151.46 after 11 p.m.
2024.04.02
[April 2] Price breaks through upper end of range and rises further after previous resistance flips to become support
Yesterday, the U.S. dollar-Japanese yen rate showed little price movement during Tokyo and London trading hours, instead traveling sideways in a triangle formation. However, it began to rise at around 9 p.m., hitting a high of 151.76 at 23:00.
2024.04.01
[April 1] In a continuation of the previous week, this week began with the yen trading in a low-volatility range
Due in part to the U.S. stock market being on holiday for Good Friday, the U.S. dollar-Japanese yen rate showed no clear direction throughout the day. The price remained within a narrow range above 151 yen.
2024.03.29
[March 29] U.S. market closed for a national holiday. Personal Consumption Expenditures (PCE) and statements from FRB Chairman Jerome Powell
No major trend arose during yesterday's US dollar-Japanese yen session, with the price oscillating above 151 yen with a range of 40 pips or so.
2024.03.28
[March 28] Will we see a correction in the yen following verbal intervention?
Before midday yesterday the US dollar-Japanese yen rate reached 151.96, a new high for recent trading. After moving sideways for a while, reports emerged after 5 p.m. of a three-party meeting between the Ministry of Finance, the Financial Services Agency, and the Bank of Japan, which sent the currency plummeting. This was followed by verbal intervention, and some time after 8 p.m. the yen hit a low of 151.02.
2024.03.27
[March 27] Today's surge in the morning session resulted in a new high for recent trading, but only just
The US dollar-Japanese yen rate failed to show any energy throughout yesterday's session, hitting a low of 151.20 yen after 6 p.m. before rising to touch 151.60 before 1 a.m., after the change of date.
2024.03.26
[March 26] Trendless market with declining volatility also shown by Bollinger Bands
In yesterday's market the US dollar-Japanese yen rate traded in a range bound by the high of 151.54 and the low of 151.05.
