Home of USD/JPY
2023-07-25
■ The Bank of Japan's policy revision observation reversed, and the dollar and yen soared to close to 142 yen, but it also left the country's government with a sense of vigilance for intervention.
■ In order to welcome the market in August, the USD/JPY is looking for a place to stay around 139-143 yen.
This week, the US Federal Open Market Committee (FOMC) will hold meetings on the 25th and 26th, and the European Central Bank (ECB) Council will be held on the 27th. There will definitely be an additional rate hike of 0.25% at the two sessions. The statement and the press conference of the Chairman of the US Federal Reserve (Fed) and ECB President Lagarde will explore the possibility of additional rate hikes after September. The Bank of Japan will hold a financial policy decision-making meeting on the 27th and 28th. In 2023, the consumer price index (core CPI excluding fresh food) is estimated to be raised to 2%. In seeing the virtuous circle of rising prices and wages, Bank of Japan President Ueda said that a certain degree of surprise is inevitable for the revision of the long-term and short-term interest rate operations (YCC). Even if the policy revision is suspended at the meeting, there will be observations of policy revisions after September.
On the 21st, the yen fell sharply on some reports surrounding the Bank of Japan's policy revision. The dollar and yen fell more than 38.2% from the June 30 high of 145 yen and 07 cents to the 14th low of 137 yen and 23 cents, or 50% back to 141 yen and 15 cents. If 61.8% of the decline returns to 142 yen and 07 yuan, the opportunity for the rise will be further strengthened, and the high price of 145 yen and 07 yuan on June 30 will start a period of high development. However, the Ichimoku Kinko Hyo balance table is 139 yen and 59 cents lower than the baseline 141 yen and 15 cents, and the possibility of the dollar and yen being pushed back still exists.
The USDJPY at the feet seems to be dominated by the JPY, but its sense of direction is important to see clearly against the US Dollar Index. Before the U.S. dollar index fell back to 101.575, which fell by 50% against the Ichimoku Kinko Hyo benchmark line and July, and then fell back by 61.8% to 102.046, it is too early to judge that the U.S. dollar has returned to appreciation. In late August, the chief executives of central banks in major countries will gather in Jackson Hole, the United States, to hold seminars related to economic policy. He believes that the dollar and yen will usher in a dance floor in August. It is expected that the low of 139 yen on the 20th is 09 yuan for the lower price, and the high of 143 yen on the 10th is just the start of finding a place for the upper price.
■ In order to welcome the market in August, the USD/JPY is looking for a place to stay around 139-143 yen.
This week, the US Federal Open Market Committee (FOMC) will hold meetings on the 25th and 26th, and the European Central Bank (ECB) Council will be held on the 27th. There will definitely be an additional rate hike of 0.25% at the two sessions. The statement and the press conference of the Chairman of the US Federal Reserve (Fed) and ECB President Lagarde will explore the possibility of additional rate hikes after September. The Bank of Japan will hold a financial policy decision-making meeting on the 27th and 28th. In 2023, the consumer price index (core CPI excluding fresh food) is estimated to be raised to 2%. In seeing the virtuous circle of rising prices and wages, Bank of Japan President Ueda said that a certain degree of surprise is inevitable for the revision of the long-term and short-term interest rate operations (YCC). Even if the policy revision is suspended at the meeting, there will be observations of policy revisions after September.
On the 21st, the yen fell sharply on some reports surrounding the Bank of Japan's policy revision. The dollar and yen fell more than 38.2% from the June 30 high of 145 yen and 07 cents to the 14th low of 137 yen and 23 cents, or 50% back to 141 yen and 15 cents. If 61.8% of the decline returns to 142 yen and 07 yuan, the opportunity for the rise will be further strengthened, and the high price of 145 yen and 07 yuan on June 30 will start a period of high development. However, the Ichimoku Kinko Hyo balance table is 139 yen and 59 cents lower than the baseline 141 yen and 15 cents, and the possibility of the dollar and yen being pushed back still exists.
The USDJPY at the feet seems to be dominated by the JPY, but its sense of direction is important to see clearly against the US Dollar Index. Before the U.S. dollar index fell back to 101.575, which fell by 50% against the Ichimoku Kinko Hyo benchmark line and July, and then fell back by 61.8% to 102.046, it is too early to judge that the U.S. dollar has returned to appreciation. In late August, the chief executives of central banks in major countries will gather in Jackson Hole, the United States, to hold seminars related to economic policy. He believes that the dollar and yen will usher in a dance floor in August. It is expected that the low of 139 yen on the 20th is 09 yuan for the lower price, and the high of 143 yen on the 10th is just the start of finding a place for the upper price.