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[April 3] Price movement lacking in vigor ahead of Friday's employment data
Yesterday, the U.S. dollar-Japanese yen rate hit a high of 151.80 a little time after 2 p.m., then fell back to mark a low of 151.46 after 11 p.m.
Changes to Trading Hours on April 2, 2024
Please note that the trading hours for some instruments have been changed on April 2, 2024.
[April 2] Price breaks through upper end of range and rises further after previous resistance flips to become support
Yesterday, the U.S. dollar-Japanese yen rate showed little price movement during Tokyo and London trading hours, instead traveling sideways in a triangle formation. However, it began to rise at around 9 p.m., hitting a high of 151.76 at 23:00.
[April 1] In a continuation of the previous week, this week began with the yen trading in a low-volatility range
Due in part to the U.S. stock market being on holiday for Good Friday, the U.S. dollar-Japanese yen rate showed no clear direction throughout the day. The price remained within a narrow range above 151 yen.
FXON Market Analysis (March 25 to 31)
Currency markets last week sent the USDJPY to a high of 151.96, barely breaching the yen's 2022 high of 151.94. However, the pair quickly retreated, spending the remainder of the week within a tight range around the 151 price level. Let's review the market movements through the week.
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[March 29] U.S. market closed for a national holiday. Personal Consumption Expenditures (PCE) and statements from FRB Chairman Jerome Powell
No major trend arose during yesterday's US dollar-Japanese yen session, with the price oscillating above 151 yen with a range of 40 pips or so.
Changes to Trading Hours in April 2024
The following is a list of instruments whose trading hours will change between April 1, 2024 and April 29, 2024 due to public holidays.
[March 28] Will we see a correction in the yen following verbal intervention?
Before midday yesterday the US dollar-Japanese yen rate reached 151.96, a new high for recent trading. After moving sideways for a while, reports emerged after 5 p.m. of a three-party meeting between the Ministry of Finance, the Financial Services Agency, and the Bank of Japan, which sent the currency plummeting. This was followed by verbal intervention, and some time after 8 p.m. the yen hit a low of 151.02.
[March 27] Today's surge in the morning session resulted in a new high for recent trading, but only just
The US dollar-Japanese yen rate failed to show any energy throughout yesterday's session, hitting a low of 151.20 yen after 6 p.m. before rising to touch 151.60 before 1 a.m., after the change of date.
[March 26] Trendless market with declining volatility also shown by Bollinger Bands
In yesterday's market the US dollar-Japanese yen rate traded in a range bound by the high of 151.54 and the low of 151.05.
FXON Market Analysis (March 18 to 24)
Last week saw a series of important economic indicator releases and key figures' statements, including policy rate announcements in Japan and the United States.
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