02/01/2024 20:55

Release： 02/01/2024 20:55

Update： 03/18/2024 03:18

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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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Following the decline in 10-year U.S. Treasury yields, USD/JPY fell to a low of 145.89 yen.

【2/1Market Overview

During Tokyo time, USD/JPY declined on risk-off buying of the yen as the NikkeiAverage weakened. There were also expectations of selling by Japanese exporters, and it temporarily fell to146.48yen. Thereafter, there was a rebound to around146.90yen. In European hours, USD/JPY moved with little direction, mainly trading around the upper 146s.NYSEtime, U.S.10year Treasury yields rose, pushing USD/JPY up to147.11yen, butif weekly initial jobless claims,10-12month unit labor costs (preliminary) were weaker than expected, U.S.10year Treasury yields would fall and USD/JPY would come under selling pressure.The USD/JPY started higher,NYSEDow fell as U.S. regional bank shares plunged, triggering risk-off yen buying and dollar selling. USD/JPY broke below the previous day’s low of146.00yen and briefly traded as low as145.89yen.