Dollar/Yen is in the 115.1 to 115.9 zone, I think ~
Good morning
USD/JPY 15-minute chart
Won't the purple zone's range continue for a while?
This zone is one where Bank of Japan intervention is expected, including verbal warnings
However, the dollar remains strong
Will the tug-of-war continue for a while?
Dollar Index 4-hour chart
This is the US 10-year yield 1-hour chart
It's a bit delicate
I also left yesterday's line in place
the blue line is still being watched
USD/JPY 1-hour chart
It might be worth aiming for a bounce at each line
From a pivot line perspective
A bounce is anticipated at 155.279
USD/JPY rebounds when US interest rates rise
In response to the US admitting it used ATACMS within Russian territory
Russia responded by changing its nuclear doctrine, making nuclear use easier
As a result, there was a momentary intense risk-off move
but observations that even with ATACMS the battlefield conditions do not change dramatically became prominent
as risk-off assets such as the yen and US Treasuries were bought, they were sold off again
and USD/JPY moved more than 2 yen off its lows
Predicting future developments is difficult, but
if US rates rise, the dollar tends to rise, and that pattern may continue
With the US government transitioning to a new administration as Biden steps down and a Trump administration takes over during the transition period,
the markets move with small triggers, but in the end
we may find that the range has not actually broken out that much
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