USD/JPY dollar-yen – 2024: yen at its weakest, broad market tilting toward dollar selling

■Position Change Signals, Event—May 27 (Monday)

・Tokyo morning: dollar weak. As European time nears, yen weak and dollar weak. From NY to London fix, dollar weak (holiday). NY close: dollar weak.

・In order of dollar strength, pound, Aussie, euro, yen (intraday basis).

・Japanese government bonds 10-year yield exceeds 1%, but no clear impact on USD/JPY. Memorial Day in the US and UK holiday leading to light trading.

・Deputy Governor of the Bank of Japan, Uchida

“This time it will be different from before.”

“The Bank of Japan has returned to a traditional monetary policy framework.”

“This implies we have overcome the zero bound constraint.”

“There remains a major task to anchor inflation expectations at 2%, but the end of the battle with deflation and the zero bound is in sight.”

“Going forward, wages are expected to continue rising.”

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■ Tokyo market spot volume (5/24)

3,487 (million dollars)

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■ US/Japan interest rates

・US Treasuries closed

US 02yr 4.946 (+0.006)

US 05yr 4.528 (-0.004)

US 10yr 4.467 (-0.010)

・Japanese government bonds: long-term yields rising

JP 02yr 0.348 (+0.010)

JP 05yr 0.602 (+0.010)

JP 10yr 1.026 (+0.025)

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■ Current positions

5/17 – BUY @ 155.60

(LAST @ 156.92)

Support at 156.78, resistance confirmation point 156.85

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■ Position changes

5/15 – SELL @ 156.30

5/06 – BUY @ 153.40

5/01 – SELL @ 156.25

4/30 – BUY @ 156.77

4/29 – SELL @ 156.36

4/05 – BUY @ 151.63

4/04 – SELL @ 151.33

4/01 – BUY @ 151.39

3/27 – SELL @ 151.35

3/12 – BUY @ 146.90

3/05 – SELL @ 150.11

3/04 – BUY @ 150.43

2/29 – SELL @ 150.55

2/21 – BUY @ 150.16

2/20 – SELL @ 150.01

2/19 – BUY @ 150.10

2/15 – SELL @ 150.48

2/07 – BUY @ 148.03

2/06 – SELL @ 148.44

2/02 – BUY @ 146.70

1/31 – SELL @ 147.41

1/30 – BUY @ 147.60

1/29 – SELL @ 147.71

1/25 – BUY @ 147.65

1/24 – SELL @ 147.95

1/15 – BUY @ 145.11

1/12 – SELL @ 145.35

1/09 – BUY @ 144.45

1/08 – SELL @ 144.63

1/02 – BUY @ 141.50