USD/JPY Dollar-Yen 2024: Shift to dollar selling
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■Signs of position change, event - July 22 (Monday)
・ Tokyo morning: yen depreciation, dollar depreciation. As European time approaches, yen strengthens across the board, dollar weakens. From Europe to London fix, dollar strengthens. From Europe to NYC, yen weakens, dollar weakens.
・ Throughout the day, dollar mildly weak.
・ Daily balance: USDJPY selling pressure at 157.30, EURJPY selling at 171.27, GBPJPY selling at 203.43, AUDJPY selling at 105.40, shifting to an overnight position.
・ In terms of dollar strength, order from strongest to weakest: yen, pound, euro, aussie (based on intraday).
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■ Tokyo market spot volume (7/12)
4,561 (million dollars)
10-day moving average 9,680
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 are rising in yields (bear steepening)
US02yr 4.521 (+0.004)
US05yr 4.173 (+0.001)
US10yr 4.254 (-0.013)
・ Japanese government bonds rising in yields (bear steepening)
JP02yr 0.342 (+0.004)
JP05yr 0.590 (+0.005)
JP10yr 1.052 (+0.013)
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■ Current positions
7/22 – SELL @ 157.30
(LAST @ 157.07)
Breakpoint for further decline acknowledged: 156.79, retracement resistance 157.11
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■ Position changes 2024
7/18 – BUY @ 157.37
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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