USD/JPY Dollar/Yen 2024: turning to a sell at 158.35
■Position Change Signals, Event – July 17 (Wed)
・ Tokyo morning: dollar weak, yen weak. As European time approaches, yen strengthens across the board while the dollar weakens. From Europe to London fix, yen strengthens across the board while the dollar weakens. From Europe to the NY close, yen strengthens across the board while the dollar weakens.
・ Throughout the day, the dollar is weak.
・ The day-to-day balance shifted to dollar selling around 158.35 USD/JPY, pound buying around 1.3000, euro/yen selling around 172.45, pound/yen selling around 205.25, moving into an overnight position.
・ Bloomberg reports yen strengthening across the board.
On the 17th, Mr. Kono appeared on Bloomberg Television and emphasized issues such as the impact of a rapid yen depreciation on domestic prices. He said that while a weaker yen could boost exports, many Japanese companies have production bases overseas, so the benefits to Japan are limited.
Mr. Kono said, “Currency movement is a problem for Japan,” and added, “The yen is too cheap. Its value needs to be restored.” He urged the Bank of Japan to raise policy rates to raise the yen’s value and reduce energy and food costs.
・ The strongest against the dollar in order: yen, euro, pound, Australian dollar (based on USD/JPY, EUR/USD, GBP/USD, AUD/USD).
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■ Tokyo market spot trading volume (7/12)
5,091 (million USD)
10-day moving average: 10,183
Recent 10-day high: 28,959 (7/11)
Recent 10-day low: 4,351 (7/8)
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■ US and Japan interest rates
・ US Treasuries show a tightening (twist) with a rising short-term rate
US02yr 4.438 (+0.019)
US05yr 4.079 (+0.005)
US10yr 4.158 (-0.002)
・ Japanese government bonds show rising yields (bear steepening)
JP02yr 0.331 (+0.028)
JP05yr 0.585 (+0.029)
JP10yr 1.046 (+0.029)
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■ Current position
7/17 – SELL @ 158.35
(LAST @ 156.27)
Retracement point for downside resume: 157.04, return resistance: 157.64
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■ Position changes 2024
7/17 – SELL @ 158.35
7/16 – BUY @ 158.60
7/11 – SELL @ 161.46
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
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