USD/JPY remained capped during today's Asian session, with market orders driven by physical demand standing out. After falling to the lower ¥156 range, it at times returned to the ¥157 range.
USD/JPY remained capped during today's Asian session, weighed down by movements in crude oil prices and the outlook for U.S. interest rates. After falling to 156.375, USD/JPY rebounded to the ¥157.20 area, but strong selling pressure pushed it back to the ¥156.60 area.
In terms of USD/JPY orders above and below the current level, buy orders were observed at 156.400 and 156.600, with few notable orders elsewhere. Individual investors appear to have refrained from setting orders amid irregular price movements and opted to trade at market.
The article is based on FX order information from Gaika dot Com and encourages readers to identify points to watch going forward. Related charts and GFX information are also provided, allowing readers to check physical demand and the market's response.