USD/JPY fell to around ¥159.25 early today before rebounding to ¥159.483, then later dipped to ¥159.173. With many retail investors on vacation, trading through market orders has been notable, and order levels on both the upside and downside have been observed.
USD/JPY showed volatile movements during today's Asian session, continuing to fluctuate in the 159 range. It initially fell to around ¥159.25 before recovering to ¥159.483, but subsequently dropped to ¥159.173 following reports that the Bank of Japan may raise interest rates in the autumn. As the market is already pricing in a September rate hike, the reaction was limited, and the decline ran its course before the pair recovered to around ¥159.45.
Sell orders currently observed are at ¥159.450, ¥159.500, ¥159.550 and ¥159.850, while buy orders are seen at ¥158.850, ¥159.100 and around ¥159.200. Meanwhile, market participants are sharing the view that many retail investors appear to be on vacation, making market-order trading more noticeable than limit-order trading.
The information is based on order levels and volumes from Gaitame.com's “FX Order Information,” and also introduces data available through the GFX smartphone app. Related tools are provided as supplementary material for assessing potential developments ahead.
The article primarily conveys Gaitame.com's views as the information provider and is not intended to encourage any specific investment decision. It organizes current market movements and trends in market-order trading based on data available when the article was prepared.