Market opening and price changes are quite volatile, even though no high-impact news will be released today, USDJPY appears to be declining, extending its decline even though it is already at the oversold level.
There is no high-impact news today related to the USDJPY pair in the economic calendar schedule, yesterday the price rose and hit the buy stop and continued but, even though the previous order hit the stop loss.
USDJPY extended its increase amid the strengthening of the USD, the dollar index DXY today rose at 104,184 even though the RSI showed an overbought level.
USDJPY rose yesterday and drew a bullish candlestick, the increase was triggered by the strengthening of the USD because US Treasury yields rose, the DXY dollar index was still showing an increase at 104,405 even though it was in the overbought zone based on RSI.
USDJPY fell yesterday amid the decline in DXY, on the other hand, the BOJ may not raise interest rates in the near future, while the Fed is predicted to cut interest rates by 50 bp at its November meeting.
There are gap at the opening market today Monday in the USDJPY pair, the open price was much lower than the closing price last Friday. US elections may give a boost to market volatility.
Today the US Election will be held, the USDJPY price which experienced a gap yesterday has not yet been recovered, but it appears that the price is trying to rise to recover the gap.
Today there seems to be turbulence amidst the US election, USDJPY rose sharply and also other pairs such as EURUSD fell sharply indicating USD get stronger. Pending order EURUSD active now.
