Today, USD/JPY moved up to the mid-¥157 range as the yen weakened, with strong buying interest around ¥156, while selling interest in the low to mid-¥158 range and near ¥160 was also notable. Correlation analysis also showed relationships with major currencies.
Compared with yesterday's movement, USD/JPY also traded in a weaker-yen direction today. Although it fluctuated during the day, the yen's decline gained momentum toward the close, and it is currently trading around the mid-¥157 range. The market considers the dollar to have been broadly strong against other major currencies, and similar movement was observed against the yen.
In technical analysis released today, the order book has attracted attention. Buy orders around ¥156 are particularly substantial, with notable orders placed near the support line. Meanwhile, substantial buy orders were also identified in the low ¥159 range, which may be attracting attention for reasons other than the resistance line. Conversely, sell orders are heavy in the low to mid-¥158 range, and selling is concentrated near ¥160.
Correlation analysis between USD/JPY and other currency pairs showed strong correlation with GBP/JPY, AUD/JPY and EUR/JPY over the past 24 hours, while EUR/USD, GBP/USD and AUD/USD were inversely correlated.
Among the eight major currencies, the Canadian dollar was the strongest and the euro the weakest over the most recent 24 hours, while the yen has remained in negative territory. The dollar has remained stable overall, with its positive margin expanding.
The economic indicators scheduled for release today include the first day of the US FOMC meeting, September new home sales and the October consumer confidence index. A list of scheduled releases has been provided.