USD/JPY Dollar-Yen 2024: Switch to Short USD/JPY

■Position Change Signs, Event - Friday, July 5

・ Tokyo morning (13:00) yen strong across the board, dollar weak. As Europe approaches, yen strengthens across the board and dollar weak. From NY to London fix, yen weak and dollar strong. From Europe to NY close, yen weak and dollar weak.

・ Throughout the day, dollar weak.

・ The day-long balance shifted to a dollar-yen sell at 161.20, transitioning to an overnight position. * Euro-yen sell at 174.03, pound-yen sell at 205.58, Aussie-yen sell at 108.36 were canceled.

・ In order of strongest to weakest against the dollar: pound, euro, Aussie, yen (base Tokyo).

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■ Tokyo market spot volume (7/4)

4,599 (million dollars)

10-day moving average 4,863

Recent 10-day high 7,877 (6/28)

Recent 10-day low 3,229 (7/1)

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■ US-Japan interest rates

・ US Treasuries see rate declines

US 02yr 4.610 (-0.081)

US 05yr 4.229 (-0.081)

US 10yr 4.282 (-0.065)

・ Japanese government bonds see short-term rate rise

JP 02yr 0.343 (+0.008)

JP 05yr 0.577 (+0.002)

JP 10yr 1.065 (-0.018)

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■ Current position

7/05 – SELL @ 161.20

(LAST @ 160.81)

Downside breakout point 160.76, rebound resistance 161.00

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■ Position changes 2024

7/05 – SELL @ 161.20

6/13 – BUY @ 156.75

6/12 – SELL @ 156.50

6/07 – BUY @ 156.10

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