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Web Service Maintenance on June 19, 2024
We will be performing system maintenance from 10:00 AM to 6:00 PM (JST) on June 19, 2024. This maintenance is due to the commencement of applications for opening real accounts and the implementation of the eKYC system. During this time, certain services will be temporarily unavailable.
[June 17] No fresh information from the Bank of Japan's Monetary Policy Meeting. Volatility fades following sharp sell-off
Today the USDJPY opened at 157.26, since when it has continued to drift without a clear sense of direction. A look at the 1-hour chart of the USDJPY (as of GMT 05:20 on June 17) shows that the price has stabilized after Friday's sharp sell-off.
FXON Market Analysis (June 10 to 16)
Stop-and-go action was the theme for the USDJPY pair this week, while the EURUSD and GBPUSD pairs were in a bearish trend.
[June 14] No surprises from the Bank of Japan's Monetary Policy Meeting. Attention will also focus on BOJ Governor Kazuo Ueda's press conference
As expected, policy interest rates were left unchanged by the Bank of Japan's Monetary Policy Meeting at around GMT 03:30 today. As there was no detail that would lead to yen purchases, the USDJPY rose after the announcement. Attention will now be focused on BOJ Governor Kazuo Ueda's press conference, scheduled for GMT 06:30.
Apology for temporary interruption in rate updates occurred on June 13, 2024
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[June 13] Dollar selling following the CPI reversed by outlook for a single interest rate cut hinted at by FOMC
Today the USDJPY opened at 156.67 before trending upward, hitting a high of 157.04 shortly after GMT 03:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:25 on June 13), the CPI caused the price to fall to the -2 standard deviation of the Bollinger Bands, but it rebounded after the details of the FOMC had been grasped to break above the middle line.
Server Maintenance to Be Conducted on June 15, 2024
On Saturday, June 15, 2024, we will be conducting server maintenance on our trading platform. The maintenance is scheduled between 06:00 and 08:00 (GMT), during which services using the affected servers will temporarily be unavailable.
[June 12] Following on from yesterday, the market waits listlessly for the CPI and FOMC. Participants may stay in wait-and-see mode until tomorrow
Today the USDJPY has moved gradually upwards within the lower end of the 157-yen range. With the market waiting for major events, we may not see an increase in volatility until the New York session opens. A look at the 1-hour chart of the USDJPY (as of GMT 05:15 on June 12) confirms that the price has lacked direction since the beginning of the week.
[June 11] Many participants taking a wait-and-see attitude ahead of tomorrow's CPI and FOMC, so market may not move much until then
Today the USDJPY rose leisurely in the morning session and a little while after GMT 03:00 had reached a high of 157.33. Looking at the 4-hour chart of the USDJPY (as of GMT 05:10 on June 11), the price is approaching the June high of 157.47.
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[June 10] With the market having risen sharply in response to Friday's employment statistics, we begin a week of one important event after another
Today the USDJPY inched up after the open, marking a high of 157.19 slightly before GMT 04:00. Looking at the 1-hour chart of the USDJPY (as of GMT 05:30 on June 10), the pullback in response to the surge seen on Friday has been limited, and the price has continued to rise along the +1 standard deviation Bollinger Band.
FXON Market Analysis (June 3 to June 9)
In the week ending June 9, the USDJPY dropped from above 157 to below 155 in the first half of the week, driven down by weak U.S. economic indicator releases. However, price movements stabilized mid-week, and the USDJPY temporarily returned to above 157 after a stronger-than-expected U.S. jobs report released on Friday.
Effects of the Stock Split to be Reflected on June 10, 2024
Prepare for the upcoming stock split of NVIDIA scheduled for the ex-rights date of June 10, 2024. FXON will implement necessary adjustments accordingly.
[June 7] Market settles into trading within the 155-yen range while participants wait for today's employment statistics from the U.S.
Today the USDJPY lost momentum after hitting a high of 155.93 at around GMT 01:00, and by GMT 04:00 it was trading in the upper half of the 155-yen range.
[June 6] Market trades in 155-yen range after digesting economic indicators
Today the USDJPY began trending downward in the first half of the Tokyo session, setting a low of 155.35 shortly after GMT 01:30. Looking at the 1-hour chart of the USDJPY (as of GMT 04:10 on June 6), it is noticeable that the walk along the upper band has come to an end, and that the price has reached the -2 standard deviation. It seems likely that the key point will be whether it transitions to a band walk along the lower band.
[June 5] Will the pattern of rising during Tokyo market hours then falling during the London and New York sessions continue?
Today the price began trending upward in the first half of the Tokyo session, setting a high of 155.59 at about GMT 03:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:15 on June 5), the price continued to fall after touching the middle line of the Bollinger Band, and has now resumed walking along the lower band.
Changes to Trading Hours in June 2024 (Final)
The following is a list of instruments whose trading hours will change between June 3, 2024 and June 20, 2024 due to public holidays.
[June 4] USD buyers take a break, price dips to 155-yen range at one point. Now looks to be in an upward retracement.
Today the USDJPY rebounded after forming a double or triple bottom, and has recovered to the 156-yen level. It recorded a high of 156.48 shortly after GMT 01:00. Looking at the 1-hour chart of the USDJPY (as of GMT 03:35 on June 4), after the price broke through the -2 standard deviation Bollinger Band, it appears to be in an upward retracement that has taken it through the -1 standard deviation band.
[June 3] Lacking a clear trend, the market treads water in the 157-yen range
Today the USDJPY hit a low of 156.99 between GMT 01:00 and GMT 02:00 before beginning to rebound, and just before GMT 04:00 it reached a high of 157.47. A look at the 1-hour chart of the USDJPY (as of GMT 05:10 on June 3) shows at a glance that the price and the Bollinger Band lines are crossing each other frequently, confirming that there is no clear sense of direction to the market.
FXON Market Analysis (May 27 to June 2)
In the week ending June 2, overall currency trends included a strengthening dollar and yen, with the USDJPY in a short downward retrace after exceeding 157.5. The EURUSD was mostly aimless, trending between 1.08 and 1.09. Meanwhile, the GBPUSD reversed its climb after reaching just below 1.28.
