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FXON Market Analysis (November 11 to November 17)
Foreign exchange markets in the week that ended on November 17 featured a strong dollar. In particular, the market focused on the policies proposed by President-elect Donald Trump. In addition, U.S. long-term interest rates were increased. As a result, the dollar strengthened further against other major currencies.
[November 15] Underlying tone of yen weakness continues on strong U.S. economy
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY hit a high of 156.74 after GMT 00:30. As of GMT 04:00, it is trading in the lower 156-yen range.
[November 14] USDJPY breaks through 156 yen - will the upward trend continue?
Today the USDJPY began to rise at around GMT 00:00, reaching 156.06 just after GMT 02:30, before falling back. After GMT 04:00, it again exceeded 156 yen and continues to rise. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 November 14), the price is moving between the +2 and +1 standard deviation Bollinger Bands, maintaining an upward trend.
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[November 13] Will the USDJPY exceed 155 yen amid lack of strong market drivers?
Today, the USDJPY testing the 155 level As of GMT 04:00, it remains range-bound in the upper 154 range. 1-hour chart the price is moving between +2 and +1 standard deviations with reduced momentum, though the middle line maintains its upward slope. A breakthrough above the critical 155 level could accelerate the upward trend.
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[November 12] USDJPY Touches 154, May Aim for Recent Highs
Today's USDJPY declined from around GMT 23:00 (November 11), touching 153.47 before turning upward and reaching 154.05 around GMT 02:00. Although it exceeded 154, after breaking above the +2 standard deviation level it fell back, and if it breaks below today's low of 153.47, there is a possibility it could transition into a downward trend.
[November 11] USDJPY Halts Decline Near 151 Yen, Now Rising in 153 Yen Range
Today the USDJPY has been rising with repeated rebounds straight after the open, reaching a high of 153.46 around GMT 03:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 11), it is trading above the middle line near the +2 standard deviation level, with the band width expanding.
FXON Market Analysis (November 4 to November 10)
In the trading week that ended on November 10th, the U.S. presidential election and the FOMC's policy interest rate decision led to sharp fluctuations, especially in USDJPY. However, by the end of the week, the market regained calmness with some profit-taking.
[November 8] U.S. Interest Rate Cut by 0.25% USDJPY Weakens Following Event
Today's USDJPY rose to 153.37 around GMT 01:30, but later fell back to around 153. As of GMT 04:00, it continues to trade in the upper 152-yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on November 8), the middle line is trending down, and the price is moving near the -1 standard deviation level. The focus is on whether it will break below yesterday's low of 152.69 yen.
[November 7] Trump Returns as U.S. President. USDJPY Moves in 154 Range After Sharp Rise
Today's USDJPY maintains its position in the 154 range, recording 154.71 yen around GMT 00:30. As of GMT 04:00, it continues to trade in the mid-154 yen range. Looking at the 1-hour chart, after the sharp rise, the band width has narrowed, and currently no trend is visible.
[November 6] USDJPY Temporarily Reaches 154-Range on Trump's Strong Performance
Today's USDJPY surged on reports of Trump's strong performance, reaching 154.30 yen around GMT 02:30. After GMT 05:00, it declined somewhat and is moving in the mid-153 yen range. Looking at the 1-hour chart of the USDJPY (as of GMT 15:40 on November 5), it has broken above the recent high of 153.88 yen and is trading above the +2 standard deviations level.
[November 5] The USDJPY decline pauses. Will there be a gap fill before the presidential election results?
As a so-called "5/10 day" (a date ending in "5" or on a multiple of "10" on which Japanese companies often settle foreign exchange payments), today the USDJPY has risen despite pushback, and as of GMT 04:00 is trading in the lower half of the 152-yen range. If the movement to fill the gap continues beyond the previous day's high of 152.52 yen, we might see levels above 153 yen.
Changes to Trading Hours in November 2024 (Final)
The following is a list of instruments whose trading hours will change between November 3, 2024 and November 29, 2024 due to public holidays.
[November 4] USDJPY falls below 152 yen, caution needed regarding volatility risk from U.S. presidential election
This week the USDJPY gapped down at the open and started trading at 152.26 yen. It moved down directly after the open, marking a low of 151.59 at around GMT 05:30. Looking at the 1-hour chart of the USDJPY (as of GMT 03:40 on November 4), the middle line is trending downward, with the candlesticks breaking below the -1σ and falling along the -2σ line.
Regarding Market Volatility Risks Due to the U.S. Presidential Election
Voting for the U.S. presidential election will begin on Tuesday, November 5, 2024 (GMT).Please note that FXON does not plan to implement any special leverage changes in response to this election. We kindly recommend checking your funding status and risk management to ensure readiness for trading.
FXON Market Analysis (October 28 to November 3)
In the trading week that ended on November 3, the outcome of the House of Representatives election in Japan and financial events in the U.S. and Japan created market volatility. While political risk dominated in the first half of the week, economic indicators influenced the market in the latter half of the week.
System Maintenance Notification for November 3, 2024
We would like to inform you of the upcoming server maintenance scheduled for November 3, 2024, and its potential impact.
[November 1] After decline following Governor Ueda's press conference, markets stabilize; U.S. employment statistics due in evening
Today's the USDJPY saw yen buying during Tokyo hours, touching 151.78 yen past GMT 23:30 on October 31, but as of GMT 04:00, is trading in the mid-152 yen range. Looking at the the USDJPY 1-hour chart (as of GMT 04:20, November 1), the decline has paused and turned upward, crossing above the middle line.
Announcement of Server and Trading Hour Changes for U.S. Daylight Saving Time End
Starting November 4, FXON will adjust MetaTrader 4 and MetaTrader 5 server times from GMT+3 to GMT+2 following the end of U.S. Daylight Saving Time, affecting trading hours for selected products.