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Apology for the system failure occurred on August 20, 2024
On August 20, 2024, at 00:30 am (GMT), trading on certain stocks was temporarily unavailable. We are pleased to inform you that the issue has been resolved, and rate distribution has returned to normal.
[August 19] Last Thursday's price rise is wiped out, with momentum implying further lows
Today the downward momentum of Friday in the USDJPY continued throughout the morning, with the price falling into the 146-yen range shortly after GMT 03:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:20 on August 19), the middle line is trending down and has broken below the -2 standard deviation.
FXON Market Analysis (August 12 to August 18)
In the trading week ended August 18, yen bears were the predominant force, the markets were primarily moved by economic indicators out of the United States.
[August 16] Strong retail sales cause market to soar to 149-yen range, may have entered gradual correction
Today there is a sense of the USDJPY having stalled after yesterday's sharp rise, and the market has fallen gradually from the open. The price has already broken below the 149-yen level. Looking at the 1-hour chart of the USDJPY (as of GMT 03:00 on August 16), while moving mostly sideways the price has broken through the +1 standard deviation of the Bollinger Bands and is approaching the middle line.
[August 15] No surprise in yesterday's CPI, and little news around to stimulate major moves in the market
Today the USDJPY reached a high of 147.61 shortly before GMT 02:00, but the price is still lacking in momentum.
[August 14] Yen sold during Tokyo session in reaction to Prime Minister Kishida announcing that he will step down
Today the USDJPY hit a low of 146.06 shortly after GMT 02:30, then began to rebound. Looking at the 1-hour chart of the USDJPY (as of GMT 03:55 on August 14), the middle line is trending downward and appears to be declining.
[August 13] USDJPY trading in the 147-yen range, may rise gradually as market adjusts to sharp sell-off
In the first half of today's Tokyo session the USDJPY trended upward again, reaching a high of 147.51 some time after GMT 01:00. A look at the 1-hour chart of the USDJPY (as of GMT 02:50 on August 13) shows that no clear trend has emerged even on this timescale.
[August 12] With the Tokyo market closed today, there was no clear price trend. Participants likely to watch from sidelines until recent highs or lows are broken
With the Tokyo market closed today, the USDJPY lacked momentum in the first half of the session, moving in a narrow price range centered on 147 yen. Looking at the 1-hour chart of the USDJPY (as of GMT 03:10 on August 12), the continuation of the range-bound market is easy to see.
FXON Market Analysis (August 5 to August 11)
In the trading week ended August 11, the USDJPY pair demonstrated dramatic price fluctuations.
[August 9] No clear trend to market, despite dollar buying triggered by yesterday's unemployment claims
Today the USDJPY reached a high of 147.81 at around GMT 23:00 before falling back. A look at the 1-hour chart of the USDJPY (as of GMT 04:55 on August 9) shows a market trading without a clear sense of direction.
[August 8] USDJPY trades in 145-146 range as market loses sense of direction
Today the USDJPY has been trading in the 145-146 range with no clear direction. Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on August 8), the Bollinger Bands are contracting, indicating that forward momentum has declined considerably.
[August 7] Deputy Governor Uchida of the BOJ says interest rates will not be hiked if markets are unstable; yen rises to just below 148
Today the USDJPY recorded a long bull bar just past GMT 01:30, and shortly after GMT 04:30 it reached a high of 147.90. This may have been driven by comments by Shinichi Uchida, the Deputy Governor of the Bank of Japan, who stated that the BOJ will not raise interest rates while the markets are unstable, adding that it will be necessary to maintain loose monetary policy at the current level for the time being.
[August 6] Yen recovers from the 141-range to the 146 level for now. All eyes on tripartite meetings between MOF, FSA, and BOJ
Today the USDJPY inherited the rebound that had begun in the second half of yesterday's session, returning to 146.37 a little while after GMT 00:00. It may be that this rise in the price was a response to the news that tripartite meetings will be held between MOF, FSA, and BOJ.
[August 5] USDJPY falls to 141 yen range during Tokyo session - circuit breaker operates on Japanese stocks
Today the USDJPY continued to fall in the Tokyo session, leading to a low of 142.18 some time after GMT 04:00.
FXON Market Analysis (July 29 to August 4)
In the week ended August 4, yen bulls gained momentum to push the USDJPY sharply down to hit new lows. At the Bank of Japan's monetary policy meeting on Wednesday, July 31, the policy rate was raised to 0.25% and the BOJ announced a plan to reduce future government bond purchases, as had been expected beforehand.
[August 2] Market directionless and volatility declining as participants await employment statistics
Today the USDJPY lacked direction, with the market mostly confined to the 149-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 06:15 on August 2), the upper and lower Bollinger Bands are tightening, showing that volatility is on a declining trend.
[August 1] BOJ Governor Kazuo Ueda's unexpectedly hawkish stance has yen breaking below 150
Today the USDJPY went on to record new lows during the morning session. Shortly after GMT 01:30 it hit a low of 148.50.
Resolution Report on the Rate Distribution Issue of July 31, 2024
A rate delivery issue affecting NESN and IBXEUR started at 07:10 am (GMT) on July 31, 2024. The problem was resolved with IBXEUR normalized around 08:41 am (GMT) and NESN around 12:41 pm (GMT).
Apology for temporary interruption in rate updates occurred on July 31, 2024
suspended on July 31, 2024, at 7:10 am (GMT) due to a problem with rate distribution. IBXEUR resumed service at 8:41 am the same day, while NESN remains suspended, and the technical team is working to resolve the issue.
[July 31] As leaked beforehand, Bank of Japan Monetary Policy Meeting decides to raise interest rates 0.25%
The closely watched Bank of Japan Monetary Policy Meeting resulted in a decision to raise interest rates 0.25%, in line with earlier leaks. The USDJPY fluctuated violently after the news came out at GMT 04:00, plunging to a low of 151.57 and then soaring to 153.89 directly after.
