01/29/2024 21:01

Release： 01/29/2024 21:01

Update： 02/08/2024 20:58

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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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Dollar/yen remains heavy on the upside as markets watch for a dovish statement at the FOMC.

【1/29Market Overview

Tokyo time, the USD/JPY rose to around 148.33 yen initially, supported by gains in the Nikkei and other factors148.33before retreating near the end of the month on selling by Japanese exporters. In European hours, without new catalysts, the USD/JPY fell as U.S.147.9010-year Treasury yields declined, pushing the USD/JPY down to around147.71yen. In New York time, dollar buying against the euro was ahead, lifting the USD/JPY toNYtime, the dollar rose against the euro, lifting USD/JPY to148.09148.09yen, but the euro/yen and sterling/yen cross yen declines caused the USD/JPY to soften to the mid-147s.yen, but euro/yen and pound/yen declines in European crosses pressured the USD/JPY to the mid-147s. U.S. Treasury Secretary reportedly cut the debt issuance forecast for Q1 from1trillion to760760billion dollars, sending the U.S.10year yields lower to around4.05% and prompting broad dollar selling, with USD/JPY dropping to around147.25yen.