USD/JPY moved from the previous day's European session into today's Asian session, and rising volatility prompted increased trading by retail investors. On 16 October, Japan-related comments caused some disappointment in the market, but did not lead to directional selling.
From the previous day's European session through today's Asian session, USD/JPY fell temporarily before attempting to rebound, but the market remained directionless as movements in long-term US interest rates intersected with uncertainty over AI funding. Trading has picked up amid a mix of strong US data and concerns related to AI.
FX trading value rose sharply by 40.7% from the previous day. Positions remained weighted toward buying, at 56% long and 44% short. Increases in new positions were particularly notable.
Among the leading currency pairs by market share, USD/JPY's share rose significantly to 76.2%, an increase of 7.5 points from the previous day. Other currency pairs saw their shares decline.
Position trends in major currency pairs showed European currency long positions being unwound and short positions increasing. In USD/JPY and AUD/JPY, a decline in short positions and an increase in long positions were observed.