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FXON Market Analysis (May 13 to 19)
Currency markets in the past week were sharp and well-defined in their movements. Influenced by data releases such as the U.S. wholesale pricing index (PPI) and Consumer Price Index (CPI), the USDJPY fell from above 156 to below 154 in the span from May 15 to May 16, but has since rebounded.
[May 17] Market recovers most of Wednesday's plunge in the price - will it test the 156-yen level?
Today the USDJPY began to rise at around GMT 01:00, and shortly after GMT 02:30 it marked a high of 155.92. The 1-hour chart of the USDJPY (as of GMT 04:40 on May 17) shows that it has recovered a good portion of the significant fall in the price that occurred on Wednesday.
[May 16] CPI underperforms expectations month on month, USDJPY plunges into 153-yen range
Today the USDJPY continued its downward trend in the morning session, at one point hitting a low of 153.59. Looking at the 1-hour chart of the USDJPY (as of GMT 05:20 on May 16), the price is band walking between the -1 and -2 standard deviations, clearly showing the strength of the downward momentum.
[May 15] No direction after post-PPI turbulence. Will CPI drive market to new high?
Later on the Consumer Price Index (CPI) will be announced at GMT 12:30, so it is likely that volatility will subside until then.
[May 14] Yen breaks above high, pushes into 156-yen range. Price band-walking on the 1-hour chart
Today the USDJPY broke above the high of the previous day shortly after GMT 00:00, and by GMT 04:00 it was trading in the vicinity of 156.40. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on May 14), yesterday's breakout has abruptly shifted the market into an upward trend, and the price is now band-walking.
[May 13] Sharp fluctuations in the 155-yen range. Watch out for PPI on the 14th, CPI on the 15th
Today the USDJPY started trading by opening a downward gap of about 10 pips, but the price soon rose to fill this. A little after GMT 01:00 it seesawed violently, hitting a low of 155.50 yen.
FXON Market Analysis (May 6 to 12)
The currency market in the past week has been characterized by a gradually strengthening yen. In the preceding week, ended May 5, the USDJPY fell to approach 151 due to the Bank of Japan's currency intervention and poor U.S. employment data.
[May 10] Price beginning to stabilize, market shifting to range-bound trading around 155 yen
Today the USDJPY began rising in the morning session, hitting a high of 155.77 not long before midday. Looking at the 1-hour chart of the USDJPY (as of GMT 03:20 on May 10), the Bollinger Bands are not expanding and the middle line is more or less flat, from which one can conclude that the market lacks a sense of direction going forward.
System Maintenance to Be Conducted on May 11, 2024
We would like to inform you of the system maintenance that will be conducted on May 11, 2024, and its potential impact.
[May 9] Volatility declines in the 155-yen range. All eyes on which direction it breaks from here
Today the USDJPY fluctuated in the 155-yen range without much sense of direction. On Tuesday and Wednesday the price rose from the Tokyo session and reached new highs, but so far today it has been unable to do so and the high is unchanged. Looking at the 1-hour chart of the USDJPY (as of GMT 05:25 on May 9), the upward momentum has been lost and the upper and lower Bollinger Bands are tightening.
[May 8] Price continues to rise since hitting low during Japanese Golden Week holidays, battleground shifts to 155-yen range
Today the USDJPY continued to trend upward, in the process moving the battleground to the 155-yen range, as shown by the high of 155.26 it reached just after GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 15:20 on May 8), the middle line of the Bollinger Bands is rising, and the price continues to move above that level.
[May 7] USDJPY rises in the morning session for two days running. Price trading in the 154-yen range during the afternoon session
Today the USDJPY started trading at 153.88, rose during the morning session, and reached a high of 154.58 after GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 04:20 on May 7), the price has bounced off the middle line and broken through the upper 2 standard deviation band.
[May 6] Volatility rising after sharp decline - beware sudden price moves
Today the USDJPY began trending upward directly after trading commenced, and just before GMT 04:00 it hit a high of 153.97 yen. Looking at the 1-hour chart of the USDJPY (as of GMT 03:55 on May 6), the price reverses into a rising trend after hitting the -2 standard deviation Bollinger Band.
FXON Market Analysis (April 29 to May 5)
In the past week, the USDJPY plunged from a high around 160 to as far as below 152 due to sharp yen buying that appeared to be the result of multiple currency interventions.
[May 3] Price breaks below low recorded after price plunged the day before yesterday, could continue towards 152-yen level
Continuing its downward trend in today's Tokyo session, the USDJPY fell through the low of the previous day and marked a low of 152.75 yen shortly after GMT 02:00.
[May 2] Another early-morning plunge in price that hints at currency intervention
Today, the USDJPY rose as it recovered from yesterday's sharp price decline, and a little while past GMT 01:30 it had regained the 156-yen level. Looking at the 1-hour chart of the USDJPY (as of GMT 03:35 on May 2), it can be seen that the market has retraced from the early-morning plunge in the price.
[May 1] Price continues to rise sluggishly after currency intervention. Attention shifts to ADP, JOLTS, and FOMC
In the first half of today's Tokyo session, the USDJPY continued its leisurely rise in an extension of the previous day's trend. As of GMT 03:00, it had hit a high of 157.89 yen, putting the 158-yen level within reach if it continues on this trajectory.
[April 30] Market in languid mood following plunge in price of more than 500 pips
Today the USDJPY opened at 156.33 before rising gradually to hit a high of 157.00 between GMT 01:00 and GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:05 on April 30), the level where the price broke below the -2 standard deviation Bollinger Band several times has become a floor, and the price is now moving slowly upward.
Changes to Trading Hours in May 2024 (Final)
The following is a list of instruments whose trading hours will change between May 1, 2024 and May 30, 2024 due to public holidays.
[April 29] Has currency intervention finally occurred? USDJPY plummets more than 500 pips immediately after reaching 160-yen range
Today the USDJPY started trading by gapping down by around 50 pips at the open, but this was quickly filled and the price subsequently continued to rise.
