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Forex Report

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.


2024.11.29
Today the USDJPY touched a low of 149.85 around GMT 01:30 after the release of Tokyo CPI at GMT 23:30 (November 28) showed positive results, strengthening expectations that the Bank of Japan would raise rates in December. This is the first break below 150 since October 21. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 29), the band width has expanded, with candlesticks moving along -2 standard deviations. The downward trend appears likely to continue.
2024.11.28
Today the USDJPY rose directly after the open, reaching a high of 151.75 around GMT 01:00. Looking at the USDJPY 1-hour chart (as of GMT 03:50) price has risen above the middle line. While this timeframe suggests an upward bias, we should remain cautious about the possibility of the price breaking below the middle line and declining again.
2024.11.27
Today the USDJPY has continued to decline from its high of 153.23 directly after the open, and as of GMT 04:00, it is trading around the mid-152 level. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00, November 27), the candlesticks are moving between -1 standard deviation and -2 standard deviations, suggesting the downward trend is likely to continue.
2024.11.26
Today the USDJPY recorded a high of 154.49 after GMT 23:30 in response to Trump's comments about imposing tariffs on China, Mexico, and Canada. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 26) the middle line is trending downward. If the price breaks below 153.55, it is expected to continue on a downward trend.
2024.11.25
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 25), the candlesticks are moving between -1 standard deviation and -2 deviations. It seems appropriate to maintain a downward bias until prices break above the middle line.
2024.11.22
Today the USDJPY touched a low of 153.96 around GMT 00:00, but as of GMT 04:00, it continues to trade in a range-bound market in the lower 154-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 22), the middle line is approaching horizontal, and the band width is contracting, indicating that the market has become trendless over the period shown.
2024.11.21
Today the USDJPY moved down directly after the open, marking a low of 154.87 around GMT 02:00. As of GMT 04:00, it is trading in a narrow range around 155.00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:30 on November 21), the candlesticks are moving below the middle line near the -2 standard deviations level.
2024.11.20
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY rose from its early low of 154.53 yen made directly after the open, and exceeded 155 yen after GMT 04:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 20), yesterday's decline has become a buying opportunity causing a rise, with candlesticks moving toward the +2 standard deviation direction.
2024.11.19
Today the USDJPY moved down directly after the open, marking a low of 153.95 around GMT 03:00. 1-hour chart (as of GMT 03:50), the middle line has started to slope downward, with the price falling along the -2 standard deviation line. If it breaks below yesterday's low of 153.84, it looks likely to test even lower levels.
2024.11.18
Looking at the USDJPY 1-hour chart (as of GMT 03:40 November 18), it is rebounding from the -2 standard deviation toward the middle line. If it exceeds today's high of 155.14, it looks likely to rise further.
2024.11.15
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY hit a high of 156.74 after GMT 00:30. As of GMT 04:00, it is trading in the lower 156-yen range.
2024.11.14
Today the USDJPY began to rise at around GMT 00:00, reaching 156.06 just after GMT 02:30, before falling back. After GMT 04:00, it again exceeded 156 yen and continues to rise. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 November 14), the price is moving between the +2 and +1 standard deviation Bollinger Bands, maintaining an upward trend.
2024.11.13
Today, the USDJPY testing the 155 level As of GMT 04:00, it remains range-bound in the upper 154 range. 1-hour chart the price is moving between +2 and +1 standard deviations with reduced momentum, though the middle line maintains its upward slope. A breakthrough above the critical 155 level could accelerate the upward trend.
2024.11.12
Today's USDJPY declined from around GMT 23:00 (November 11), touching 153.47 before turning upward and reaching 154.05 around GMT 02:00. Although it exceeded 154, after breaking above the +2 standard deviation level it fell back, and if it breaks below today's low of 153.47, there is a possibility it could transition into a downward trend.
2024.11.11
Today the USDJPY has been rising with repeated rebounds straight after the open, reaching a high of 153.46 around GMT 03:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 11), it is trading above the middle line near the +2 standard deviation level, with the band width expanding.
2024.11.08
Today's USDJPY rose to 153.37 around GMT 01:30, but later fell back to around 153. As of GMT 04:00, it continues to trade in the upper 152-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 8), the middle line is trending down, and the price is moving near the -1 standard deviation level. The focus is on whether it will break below yesterday's low of 152.69 yen.
2024.11.07
Today's USDJPY maintains its position in the 154 range, recording 154.71 yen around GMT 00:30. As of GMT 04:00, it continues to trade in the mid-154 yen range. Looking at the 1-hour chart, after the sharp rise, the band width has narrowed, and currently no trend is visible.
2024.11.06
Today's USDJPY surged on reports of Trump's strong performance, reaching 154.30 yen around GMT 02:30. After GMT 05:00, it declined somewhat and is moving in the mid-153 yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 15:40 on November 5), it has broken above the recent high of 153.88 yen and is trading above the +2 standard deviations level.
2024.11.05
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY has risen despite pushback, and as of GMT 04:00 is trading in the lower half of the 152-yen range. If the movement to fill the gap continues beyond the previous day's high of 152.52 yen, we might see levels above 153 yen.
2024.11.04
This week the USDJPY gapped down at the open and started trading at 152.26 yen. It moved down directly after the open, marking a low of 151.59 at around GMT 05:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 4), the middle line is trending downward, with the candlesticks breaking below the -1σ and falling along the -2σ line.

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