USD/JPY Dollar-Yen 2024: 155.80 turning to buy

■Signs of position changes, event — June 5 (Wednesday)

・ Tokyo morning: yen broadly weak, dollar broadly strong. As European hours approach, yen remains broadly weak and dollar strengthens. From NY to London fix, yen broadly weak and dollar strong. NY close: yen broadly weak and dollar strong (from European time, little movement).

・ The USD/JPY balance shifted to buy around 155.80, euro selling at 1.0880, and GBP/JPY buying at 199.20, transitioning to an overnight position.

・ Short yen ahead at ISM, with a tilt toward dollar strength.

・ In order of strongest against the dollar: GBP, AUD, EUR, JPY (based on intraday).

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■ Tokyo market spot volume (6/4)

4,800 (million dollars)

10-day moving average: 3,627

Most recent 10 days high: 5,183 (5/30)

Most recent 10 days low: 2,551 (5/22)

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■ US/Japanese yields

・ US Treasuries fell in yield (bull flattening)

US 02yr 4.724 (-0.048)

US 05yr 4.294 (-0.055)

US 10yr 4.277 (-0.053)

・ Japanese government bonds fell in yield (bull steeve)

JP 02yr 0.352 (-0.023)

JP 05yr 0.573 (-0.021)

JP 10yr 0.997 (-0.011)

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■ Current positions

6/5 – BUY @ 155.80

(LAST @ 154.88)

Support at 155.44, resistance at 155.84 for resumed upside

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■ Position changes

6/03 – SELL @ 156.80

5/31 – BUY @ 157.25

5/30 – SELL @ 157.00

5/17 – BUY @ 155.60

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