The Japanese yen as of March 2022 continues to be sold. It is also an abnormal situation where there is almost no return and it continues to be sold unilaterally. This is a very rare phenomenon and shows that the theory of “buying Japanese yen in an emergency” has completely collapsed. As of March 25, 2022, it was finally in the range, and buying has been settled once, but there is a possibility that it will go further up from this range. There is no element to buy Japanese yen so much.
The chart below is the daily chart of USDJPY on March 25, 2022. It has finally reached 122 yen, and the yen has been depreciating for the first time in 6 years and 3 months. It is said that this is largely due to the widening interest rate differential between Japan and the United States due to the decision to raise interest rates in the United States. However, this momentum is unlikely to stop at all. If it seems to exceed 125 yen, Japan itself will be in a dangerous situation in earnest.
The chart below is the daily chart of EURJPY on March 25, 2022. The euro had crashed due to the invasion of Ukraine, but instead of brilliantly recovering in a V shape, it hit a recent high. 135 yen is just around the corner, and it’s in a situation where it’s safe to update at any time.
The chart below is the daily chart of GBPJPY on March 25, 2022. The pound had crashed due to the invasion of Ukraine, but instead of brilliantly recovering in a V shape, it hit a recent high. 162 yen is just around the corner, and it’s in a situation where it’s safe to update at any time.
The chart below is the daily chart of AUDJPY on March 25, 2022. The Australian dollar has been in a strong situation for more than a month, and it has been unilaterally soaring, taking into account the collapse of the Japanese yen. We have reached 92 yen and are looking for an opportunity to rise further. It may exceed 100 yen.
The chart below is the daily chart of CADJPY on March 25, 2022. The chart is almost the same as the Australian dollar, and one-sided Canadian dollar buying is progressing. Reaching 97 yen and reaching 100 yen may be a matter of time.
The chart below is the daily chart of CHFJPY on March 25, 2022. It has exceeded 131 yen and is looking for an opportunity to rise further. The Japanese yen market is in the range as of March 25, and the situation will change depending on whether it plunges from here or causes a further surge.
Japanese yen has only negative factors
In this way, one-sided Japanese yen sales are being developed, and although it is currently in the range, there is a possibility of a further surge. Generally speaking, it should plummet from here, but the current situation is that there are too few factors to buy Japanese yen.
Bank of Japan induces yen depreciation
The Bank of Japan’s governor, Haruhiko Kuroda, said on the 25th that the recent depreciation of the yen “does not mean that trust in the yen has been lost at this point,” and is ready to tolerate the depreciation of the yen. However, if the dollar exceeds 125 yen, the face will turn blue. 125 yen is strongly recognized as the “Kuroda line”, which is the lower limit for the depreciation of the yen.
North Korea launched a ballistic missile at Japan on the 24th. The United Nations has proposed tightening sanctions on North Korea, which has become very busy. The Japanese government is still in a good weather and the Japanese people are out of peace, but from a global perspective, Japan is no longer a safe country.
The Senkaku Islands in Japan are also a problem. China’s piracy has become a norm, and it has repeatedly invaded Japan’s territorial waters. With the increasing number of Japanese people disgusted by the Liberal Democratic Party, which can only make a statement of “regret,” there is nothing to improve.
Russia has also retaliated since Japan sanctioned Russia. In Hokkaido, it has been announced that Russian fighters have trespassed, and this is also in a state of great tension. Russia is expected to be destroyed by sanctions from around the world, but it may invade the airspace for some time.