USD/JPY Dollar-Yen 2024: Turning to Buy

■Position Change Signals, Event – Tuesday, July 9

・ Tokyo morning: yen weak, dollar weak. As European time approaches, dollar strengthens. From New York to London fix, yen weakness across the board and dollar strength. NY close: yen weakness and dollar strength.

・ Throughout Tokyo and New York, dollar strength.

・ Daily balance: dollar-yen bought at 160.80, euro sold at 1.0825, pound sold at 1.2805, AUD sold at 0.6742; shifted to overnight positions.

・ Powell, Fed Chair, said “rate cuts are not imminent,” accelerating yen shorts.

・ Strongest against the dollar in order: AUD, euro, pound, yen (based on Tokyo/Japan).

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■ Tokyo market spot volume (7/8)

4,351 (million dollars)

10-day moving average 4,888

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: long-term rates rising (twist steve)

US 02yr 4.626(-0.005)

US 05yr 4.246(+0.003)

US 10yr 4.296(+0.014)

・ Japanese government bonds: long-term rates fell

JP 02yr 0.357(+0.002)

JP 05yr 0.589(-0.008)

JP 10yr 1.080(-0.008)

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■ Current positions

7/09 – BUY @ 160.80

(LAST @ 161.29)

Support at 161.03, rising point reconfirmation at 161.22

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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