USD/JPY Dollar-Yen 2024: Turning to Sell

■Position changes, signs – September 3 (Tuesday)

・ Tokyo morning: yen strong, dollar strong. As European time approaches, yen strong across the board and dollar strong. From European time to London fix, yen strong and dollar strong. From European time to the close in New York, yen strong and dollar strong.

・ Throughout the day, dollar strength.

・ Day-to-day balance: USD/JPY selling to 146.30, shifting to an overnight position.

・ U.S. stock main indices fall, dollar up, yen up, bonds rise (yield decline), commodities down, signs of economic slowdown. With changes in U.S.-Japan politics and growing uncertainty after Labor Day, perhaps autumn markets through Thanksgiving.

・ In order of strongest against the dollar: Yen, Euro, Pound, Australian dollar (based on intraday).

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■ Japan-US Bond Markets

・ U.S. Treasuries: yields fall (bull flattening)

US02yr 3.863(-0.060）

US05yr 3.639(-0.076）

US10yr 3.833(-0.086）

・ Japanese Government Bonds: yields rise (bear flattening)

JP02yr 0.387（+0.015）

JP05yr 0.531（+0.015）

JP10yr 0.926（+0.012）

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■ Current Positions

9/3 – SELL＠146.30

(LAST＠145.48）

Breakpoints: downside continuation confirmed at 145.94, recovery resistance at 146.43

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■ Position Changes in 2024

8/29 – BUY＠144.65

8/23 – SELL＠145.40

8/22 – BUY＠145.95

8/16 – SELL＠147.90

8/15 – BUY＠147.05

8/13 – SELL＠147.00

8/07 – BUY＠145.35

7/22 – SELL＠157.30

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