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[July 30] At last an upward trend, with the price breaking above of the +2 standard deviation Bollinger Band
Today the USDJPY hit a low of 153.61 shortly after GMT 00:00, but then reversed direction to break above the high of the previous day. Not longer after GMT 05:00 the market was trading in the area of 154.40 yen.
Changes to Trading Hours in August 2024 (Final)
The following is a list of instruments whose trading hours will change between August 1, 2024 and August 27, 2024 due to public holidays.
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[July 29] A busy week ahead with many important events, including the Bank of Japan Monetary Policy Meeting, FOMC, and employment statistics
Today, the USDJPY hit a high of 154.35 shortly after GMT 00:00, then fell back to mark a low of 153.01 some time after GMT 2:00. Market volatility was high by Tokyo standards.
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FXON Market Analysis (July 22 to 28)
The currency exchange trading week ended July 28 was marked by a clear momentum toward an appreciating yen. This was evidenced by the USDJPY falling below 152, and the yen crosses, such as the EURJPY and GBPJPY, also moving into a state of general decline.
[July 26] USDJPY rebounds after strong quarterly GDP figures, personal consumption expenditures due today
Today the USDJPY lacked direction in the morning, with the market confined to a price range centered on 154 yen. Looking at the 1-hour chart of the USDJPY (as of GMT 03:25 on July 26), due to the pause in the fall in the price, the middle line of the Bollinger Bands has switched to an upward trend.
[July 25] Price continues to fall with shallow pullbacks, now in a clear downward trend
Today the USDJPY maintained its downward trend. It marked a high of 153.96 shortly after GMT 00:00, but then changed direction and began to fall, reaching a low of 152.27 just after GMT 03:00. In the blink of an eye, the market was moving back and forth in the 152-yen range.
[July 24] USDJPY trading at the low end of the 155-yen range following news suggestive of stronger yen
Today the USDJPY hit a high of 155.99 shortly after GMT 00:30, but despite that it failed to reach the 156-yen level, and began falling back. Looking at the 1-hour chart of the USDJPY (as of GMT 03:10 on July 24), the overall picture is one of long down bars and short up bars.
[July 23] Slightly lower low than yesterday suggests mounting selling pressure
Today the USDJPY trended downward in the morning session, hitting a low of 156.19 slightly before GMT 04:00. This was slightly below the low of the previous day. Looking at the 1-hour chart of the USDJPY (as of GMT 05:15 on July 23), the middle line of the Bollinger Bands is falling steadily.
[July 22] Sideways market has continued since Friday of last week - which way will it break?
The USDJPY hit a low of 157.15 shortly after GMT 23:30 on July 21, then began to rebound. Looking at the 1-hour chart of the USDJPY (as of GMT 03:55 on July 22), the Bollinger Bands are contracting with the middle line moving almost parallel to them, showing the trendless nature of the market.
FXON Market Analysis (July 15 to 21)
Currency markets in the week ended July 21 were notable in the relative weakness of the dollar, with the USDJPY temporarily falling below 156. Let's review the market movements through the week.
Apology for the system failure occurred on July 19, 2024
This is to inform you that there was a temporary system failure affecting some stock brands from approximately 9:16 am to 10:48 am on July 19, 2024 (GMT). The issue has been resolved, and all rates are now operating normally.
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System maintenance for our web service, which began on Monday, May 27, 2024, is now complete. All temporarily suspended services are now fully available.
[July 19] In the absence of inspiring news to drive this end-of-week market, we could see the price continue to rise gradually
Today the USDJPY marked a low of 157.06 shortly after GMT 00:00, then shifted direction to rise in leisurely fashion. Looking at the 1-hour chart of the USDJPY (as of GMT 03:15 on July 19), the price has been rebounding since the low set yesterday morning, and has been more or less band walking along the upper band.
[July 18] Despite falling after comments from Minister for Digital Transformation Taro Kono, the market may bottom in the 155-yen range
In the first half of today's Tokyo session, the USDJPY hit a low of 155.36 before rebounding to the 156-yen range shortly after GMT 03:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:25 on July 18), the price can be seen to have bottomed in the area of the -2 standard deviation of the Bollinger Bands, and is now rising after having crossed over the middle line.
[July 17] Market still in a lull after plunge in price, low-volatility trading continues
Looking at the 1-hour chart of the USDJPY (as of GMT 03:00 on July 17), it appears to still be in a lull after the significant price decline of last week. The width of the Bollinger Bands and the slope of the middle line give little sense of momentum.
[July 16] Market rebounds from yesterday's New York low. Volatility is on the rise
After marking a low shortly before GMT 16:00 the USDJPY rebounded, and that upward trend continued in today's Tokyo session. Looking at the 1-hour chart of the USDJPY (as GMT 05:00 on July 16), the Bollinger Bands have expanded and the price is trading in the area of the +2 standard deviation. Volatility is on a rising trend and it appears as if there is some upward momentum to the market.
[July 15] Volatility is gradually falling as the market moves on from the post-CPI plunge
On Friday of last week, in the aftermath of the plunge in the market that followed Thursday's Consumer Price Index (CPI), the USDJPY was in a state of high volatility with repeated fluctuations in the price. There were passages of violent up-and-down movement between GMT 23:00 and GMT 00:00 and again after GMT 12:00.
FXON Market Analysis (July 8 to 14)
In the week ended July 14, the biggest highlight was by far the crashes from Thursday's release of the U.S. Consumer Price Index (CPI). The USDJPY, and other yen crosses, went into general collapse. With the weaker dollar, the EURUSD and GBPUSD also marked fresh highs.
