Tokyo stocks are expected to trade range-bound on the 24th. With the earnings announcement season over and few market catalysts available, the Nikkei 225 is expected to be driven by the 25-day moving average. The yen is expected to continue moving within a narrow range.
Tokyo stocks on the 24th are expected to trade range-bound following the previous day's conditions. The expected range is ¥65,500 to ¥66,300, while the previous week's closing price was ¥66,016.36. The Nikkei 225 is expected to be influenced by the 25-day moving average, which stood at ¥65,615 as of the end of the previous week. The completion of the domestic earnings announcement season has also contributed to the lack of market catalysts. In the foreign exchange market, USD/JPY is expected to remain in the upper ¥158 range and EUR/JPY in the mid-¥185 range, with limited movement continuing.
In addition, ADRs at the end of the previous week were mixed on a yen-converted basis, with stocks including Nippon Steel, SMC, Keyence and ROHM recording settlement prices below their previous closing prices. The yen-denominated settlement price for Chicago Nikkei 225 futures was ¥65,915, down ¥175 from the previous week's closing level on the Osaka Exchange. On the domestic and overseas schedule, the final June Monthly Labour Survey and the auction and issuance of 10-year Climate Transition bonds are planned. At 21:30 US time, the US July Chicago Fed National Activity Index is expected to be released.
In addition, as factors that could lead to changes in the market environment, movements in the Nikkei 225 and sharp fluctuations in USD/JPY may attract attention. Investors are urged to make investment decisions at their own responsibility.