11/12/2025 21:22

Release： 11/12/2025 21:22

Update： 11/12/2025 21:22

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This is a magazine for upskilling in FX trading. Two features: FX Evangelist Endō's USD/JPY analysis, and former mega-bank chief dealer Hayashi's global analysis of the foreign exchange market.

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With expectations for the U.S. government agencies to reopen, the risk-on flow sent USD/JPY to the 155 yen area briefly.

【11/12Market Overview】

In Tokyo time, the USD/JPY pair rose as the Nikkei stock average showed a firm downside, with a risk-on flow leading to dollar buying and yen selling. As the deadline for the interbank settlement approaches and domestic real-money traders buy dollars,154.79yen was reached. When Finance Minister Takeshi Katayama commented that “there is a one-sided movement in the exchange rate currently,” and that “the negative aspects of yen depreciation cannot be denied,” a pullback was seen, but the reaction was limited. In European trading hours, USD/JPY remained largely near the 154.60 yen level and held firm.NYtime, with expectations rising for the U.S. government to reopen, global stock prices rose, risk-on sentiment prevailed, and USD/JPY briefly rose to155.04yen,2/4marking the highest level in about9months since February 4.