02/11/2026 21:14

Release： 02/11/2026 21:14

Update： 02/11/2026 21:14

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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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US employment data is expected to beat forecasts, but USD/JPY falls for a third day.

【2/11Market Overview

Tokyo time, while Japan was on a holiday, the unwinding of yen shorts accumulated around the House of Representatives election continued, and the USD/JPY fell below154yen. In European time, USD/JPY declined to152.80yen, but later buying brought it back to the153.30yen area. In NY time,1month US jobs data showedNFP (non-farm payrolls) rising by13.0 tens of thousands versus an expected7.0 tens of thousands, and the unemployment rate at4.3% versus an expected4.4%, a stronger result, leading to dollar buying, with USD/JPY rising briefly to154.64yen. However, following the Liberal Democratic Party's landslide victory in the lower house election, and expectations that the Takai administration would heed fiscal discipline, yen buying took the lead, and USD/JPY fell to152.55yen.