Daily Analysis (9/11) USD/JPY declined. Could it be due to the remarks from the Bank of Japan?
※There is a possibility of a significant fluctuation from here because I am analyzing on a hourly basis. It is being considered as one reference.
Fundamental analysis.
- The USD in the morning was trading at around 141 yen, declining from the previous day's New York market closing (142.43/48 yen). The risk-off sentiment intensified due to a decline in the stock market and the remarks from the Bank of Japan's policy board member Junko Nakagawa were seen as a factor, resulting in increased selling of the USD and buying of the yen.
- The USD in the morning was trading at around 141 yen, declining from the previous day's New York market closing (142.43/48 yen). The risk-off sentiment intensified due to a decline in the stock market and the remarks from the Bank of Japan's policy board member Junko Nakagawa were seen as a factor, resulting in increased selling of the USD and buying of the yen.
Since the beginning of the year, it has been in a low price range. Based on Vice Governor Nakagawa's view, there is a tendency for a yen buying due to the awareness of financial normalization. The significant decline in the Nikkei average stock price also becomes a factor for yen buying.
Technical analysis (Rating: 1.16/5)
・Moving average line: Regarding the moving average line, there was a dead cross of the 5/21/50/75-day moving average line around 0:00. Around 7:00, there was a dead cross of the 21/50/75-day moving average line. After the dead cross, the candlestick chart fell to the 5-day moving average line.(1.5/5)
・DMI: Around 3:00, there was a cross between MDI/ADX. After that, ADX rose and the downtrend accelerated. (1.5/5)
・RSI times MACDBefore 9:00, RSI was around 35. After that, it transitioned below 30 to an oversold level. MACD had a dead cross around 20:00 on 9/10, followed by an accelerated downtrend (1/5).
→ There is a possibility that there was an increase in selling dollars and buying yen as a result of the remarks made by Junoko Nakagawa, a member of the Bank of Japan Monetary Policy Board. (1.5/5)
・Historical VolatilityBefore 10:00, it remained flat. However, afterwards, there was a rapid upward movement towards the downside (1.5/5).
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