USD/JPY Dollar/Yen 2024: Dollar buying driven by euro selling

■ Signs of position changes, events — June 10 (Monday)

・ Tokyo morning: yen weakness across the board, dollar strength. As European time approaches, euro weakness and dollar strength. From New York to London fixings: dollar strength and yen strength. NY close: yen weakness and dollar weakness (dollar strength persists through Japan daylight hours).

・ Yen-dollar balance: AUD/JPY changed to buying at 103.70, shifting to an overnight position.

・ European Parliament elections saw the right-wing advance in Germany with large losses for the ruling party; Macron proposed dissolving the French parliament and holding early elections. News from Europe led to euro selling. Consequently, pound selling spread.

・ In terms of the dollar, strongest order: AUD, pound, yen, euro (Japan-China bases).

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■ Tokyo market spot volume (6/7)

3,858 (million dollars)

10-day moving average 4,060

Recent 10-day high 5,183 (5/30)

Recent 10-day low 3,110 (6/03)

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■ U.S. and Japan interest rates

・ U.S. Treasuries: short-term declines, long-term rises (twist.)

US 02yr 4.885 (-0.004)

US 05yr 4.484 (+0.020)

US 10yr 4.469 (+0.034)

・ Japanese government bonds: rates rising (bear steepening)

JP 02yr 0.377 (+0.034)

JP 05yr 0.600 (+0.059)

JP 10yr 1.033 (+0.070)

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■ Current positions

6/7 – BUY @ 156.10

(LAST @ 157.03)

Set a new lower limit for decline at 155.78, resistance for rebound at 156.03

Support at 156.90, confirmation for upward rebound at 157.01

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■ Position changes 2024

6/06 – SELL @ 155.70

6/05 – BUY @ 155.80

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