The yen's appreciation trend has reportedly paused against the backdrop of reports citing BOJ officials, while individual investors are shifting their trading to market orders. This article reviews the key points from today's FX order information.
Dollar-yen fell sharply during today's Asian trading hours. With expectations of a BOJ rate hike taking the lead, the yen was bought and dollar-yen fell to ¥156.351. However, dollar-yen rebounded to the ¥157 range after reports circulated citing BOJ officials as saying that the BOJ would limit this month's rate hike to 0.25% and keep the pace of future hikes flexible. The yen's appreciation trend therefore appears to have entered a temporary pause.
Current order conditions show few notable upside or downside orders, and individual investors appear to be switching to market orders amid volatile price movements. There is little sense of a clear reference level at current prices, and recent movements suggest that liquidity has declined.