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[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.
[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.
Service Outage Resolved
We are pleased to inform you that the service outage affecting the Client Portal since Monday, July 29, 2024, at 00:00 a.m. (GMT) has been resolved. The Client Portal is now fully operational.
[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.
Service Outage for Client Portal
We have been experiencing a service outage for the Client Portal since Monday, July 29, 2024, at 00:00 a.m. (GMT), which is temporarily preventing access to the portal.
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.
