USD/JPY Supported by Reopening Expectations – Trading Around 154
Daily Market Analysis
Expert analysis of today's market movements and trading opportunities
Daily Market Analysis
Expert analysis of today's market movements and trading opportunities
Fundamental Analysis
- Expectations for the end of the U.S. government shutdown have boosted global stock markets
- The USD/JPY remains range-bound, and traders are watching for a possible breakout
USD/JPY Daily Chart
The daily chart shows the conversion line acting as strong support. On a broader scale, the 61.8% Fibonacci retracement level also supports the pair, helping it turn upward.
Optimism over a potential U.S. government reopening has lifted global equities, with the London Stock Exchange reaching an all-time high. Improved investor sentiment is supporting USD/JPY gains.
The 52EMA is trending upward, indicating a strong bullish bias. The key focus is whether the pair can surpass its recent high.
USD/JPY Day Trading Strategy
The pair is moving within a range of 153.00–154.40, with heavy resistance above 154.50. As North American markets are closed today, major moves are unlikely. However, further progress on the government reopening could trigger stronger dollar buying.
If that happens, a breakout above 154.50 yen may occur. Traders may consider placing buy-limit orders around the 153.00 area.
Key Economic Events
Note: Some U.S. data releases may be delayed due to the government shutdown.
| Event | Time |
|---|---|
| U.S. and Canada Market Holiday | – |
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![[Special Edition] When Will the Bank of Japan's Next Rate Hike Come?](/_next/image/?url=%2Fimages%2Fmarket-analysis%2F20251031USDJPYDAY.webp&w=3840&q=75&dpl=dpl_DuroJaYkswUAC7zyZSzJuw8Qt8iH)
[Special Edition] When Will the Bank of Japan's Next Rate Hike Come?
The Bank of Japan decided to keep its policy rate unchanged at around 0.5%. Governor Kazuo Ueda stated that the BOJ would closely watch wage negotiations in next spring's "Shuntō" before making any policy changes.
USD/JPY Faces Resistance as BOJ Keeps Policy Unchanged
The Bank of Japan decided to maintain its current policy settings. Markets are focusing on whether the Governor will mention a possible rate hike in his press conference. Meanwhile, although the U.S. has already begun rate cuts, opinions differ on a possible additional cut in December.
USD/JPY Forms Double Top, Downtrend Ahead?
USD/JPY is forming a double top pattern, trading in the low 151 range. Goldman Sachs forecasts a potential return to around 100 if interest rates continue rising over the next decade. The FOMC meeting is scheduled for early tomorrow with a rate cut already priced in.
This material is for informational purposes only and does not constitute investment advice. Trading leveraged products involves significant risk of loss. Past performance is not indicative of future results.