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.
2024.04.02
[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.
