USD/JPY Dollar/Yen 2024: Short USD/JPY

■Position Change Signs, Event — July 11 (Thursday)

・Tokyo morning: yen strength against the dollar. As European time approached, dollar weakness. From Europe to London fix, yen strength across the board, dollar weakness. From Europe to the NY close, yen strength across the board, dollar weakness.

・Throughout the day, dollar weakness.

・Risk sentiment shifted: yen selling in USD/JPY at 161.46, EUR/JPY 174.68, GBP/JPY 206.80, AUD/JPY 108.87, moving to an overnight position.

・After US CPI, yen strengthened across the board. Speculation of government and BOJ intervention.

・In order of strongest to weakest against the dollar: yen, pound, euro, Australian dollar (on a USD/JPY, EUR/JPY, GBP/JPY basis).

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■ Tokyo market spot volume (7/10)

4,638 (million dollars)

10-day moving average 4,963

Latest 10 days’ maximum 7,877 (6/28)

Latest 10 days’ minimum 3,229 (7/1)

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■ US and Japan interest rates

・Treasury bonds are with lower yields (bull spread)

US 02yr 4.517 (-0.105)

US 05yr 4.141 (-0.097)

US 10yr 4.212 (-0.076)

・Japanese government bonds with lower yields

JP 02yr 0.330 (-0.003)

JP 05yr 0.603 (-0.003)

JP 10yr 1.078 (-0.008)

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■ Current positions

7/11 – SELL @ 161.46

(LAST @ 158.98)

Breakdown point: 159.10, return resistance 160.12

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■ Position changes in 2024

7/09 – BUY @ 160.80

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