USD/JPY moved between the upper ¥153 range and the mid-¥154 range during Asian trading today, with limited directional bias ahead of the US CPI release. Retail investors are assumed to be engaging in short-term trading through market orders, while selling has been observed around ¥154.550–¥154.650 at current levels.
USD/JPY moved from the upper ¥153 range to the mid-¥154 range during Asian trading today. Ahead of the release of the US consumer price index (CPI), the market lacked a clear direction, while movements in after-hours trading of NY crude oil futures affected the pair. The rate fell as low as ¥153.961 early in the session, but also rose to a high of ¥154.612, resulting overall in a calm range-bound market.
In terms of market orders, selling was observed at ¥154.550 and around ¥154.650 on the upside from current levels, and it has been reported that retail investors appear to be trading mainly through market orders. Small orders were scattered at other levels, but factors capable of triggering sharp price moves were limited.
This information was prepared based on 外為どっとコム’s “FX Order Information,” with supplementary materials including a 60-minute USD/JPY GFX chart also provided. Points to watch going forward include how buying and selling interest at the upside and downside levels changes from current levels, and whether the market regains momentum after the release of US economic data.