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Changes to Trading Hours in May 2024(TBC)
The following is a list of instruments whose trading hours will change between May 1, 2024 and May 28, 2024 due to public holidays.
FXON Market Analysis (April 22 to 28)
The currency market in the past week has been characterized by an overwhelmingly weakening yen.
[April 26] No surprises from the Bank of Japan's Monetary Policy Meeting. USDJPY breaks above 156 yen
As today was the second day of the Bank of Japan's Monetary Policy Meeting there was an announcement regarding the benchmark rate, but as expected there was no further hike. The USDJPY soared in response, breaking through the 156-yen level.
System Maintenance to Be Conducted on April 27, 2024
We would like to inform you of the system maintenance that will be conducted on April 27, 2024, and its potential impact.
Changes to Trading Hours on April 25 and 26, 2024
Please note that the trading hours for some instruments have changed on April 25 and 26, 2024.
[April 25] Price hits a 34-year high above 155 yen
Today the USDJPY fell just slightly to 155.19 directly after the open, but in a replay of yesterday's movement it then continued to rise and a little before GMT 05:00 it hit a high of 155.51 yen.
Changes to Trading Hours on May 1, 2024
Please note that the trading hours for some instruments have been changed on May 1, 2024.
[April 24] USDJPY clings to high end of range
Today again the USDJPY remained at the high end of its range with no clear trend, and after GMT 05:00 fluctuations in the price were restricted to the extraordinarily narrow limits of 154.73-154.87 yen.
[April 23] Fears of intervention overshadow the market as the price approaches 155 yen
Today the USDJPY started trading at 154.83 yen, and some time after GMT 01:00 it reached a low of 154.65.
[April 22] Price continues to trade in a narrow range under pressure from both above and below
Today the USDJPY fell directly after the open to touch a low of 154.41 yen, after which it rose to hit a high of 154.73 a little before GMT 01:00.
FXON Market Analysis (April 15 to 21)
Markets in the week ending April 21 displayed yet another round of dollar appreciation. This was a theme established early in the week, with the morning of Monday, April 15 seeing the USDJPY break above recent highs and build higher past 154.
[April 19] News of deterioration in Middle East situation leads to wild fluctuations in USDJPY
At around GMT 01:00, there were news reports of a large explosion within Iran, and from the middle of the 154-yen range the USDJPY plunged as far as 153.58. The situation was subsequently further complicated by news that there had after all been no major explosion on the Iranian side caused by an attack by Israel.
System Maintenance to Be Conducted on April 20, 2024
We would like to inform you of the system maintenance that will be conducted on April 20, 2024, and its potential impact.
[April 18] Despite small decline in the first half of Asian session, price again rebounds after falling below 154 yen
Today the USDJPY opened at 154.33. Not long after GMT 02:00 the price fell below the recent low, going down as far as 153.95, but it recovered immediately and resumed trading in the 154-yen range.
[April 17] With the price near previous highs, volatility declines due partly to caution about currency intervention
Today the USDJPY showed little direction, and by GMT 03:45 the price was moving around the middle of the 154-yen range. Due partly to wariness about currency intervention, the price has begun to stall. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on April 17), it can be seen that volatility is declining and the Bollinger Bands are tightening.
[April 16] Better-than-expected retail sales result in breakout to a new high, with USDJPY entering 154-yen range
Today the USDJPY traded in the lower end of the 154-yen range, hitting a high of 154.42 at GMT 02:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:50 on April 16), the uptrend began with the price breaking out to a new high of 153.96 yen before the London session yesterday, with this line then being converted into support.
[April 15] Price quickly fills opening gap down, surges upward to set new recent high
This week the USDJPY began trading at 153.02. The price gapped down 30 pips from Friday's close, but rose immediately to fill the gap. It then continued to rise, reaching a high of 153.74 a little while after GMT 02:30.
FXON Market Analysis (April 8 to 14)
The currency market in the past week has been characterized by a strengthening dollar.
[April 12] Price remains in vicinity of new high established after CPI figures without pulling back
During yesterday's session, the USDJPY formed a range between 152.50 and 153.00, without showing any clear direction. The price has remained buoyant since breaking through the 153-yen level after the Consumer Price Index (CPI) beat market expectations on April 10.
[April 11] Deep-rooted inflation revealed by CPI drives USDJPY through 153-yen level
There was a major market move in the USDJPY yesterday, with the price bursting through 153 yen following the announcement of the U.S. Consumer Price Index (CPI) for March at GMT 12:30, which beat expectations. Ultimately, the high for the day was the 153.24 recorded just before the close.
