๐๐๐USD/JPY news:
๐The Japanese Yen (JPY) maintains its upward momentum against a broadly weaker US Dollar (USD) during the early European session on Monday, driven by expectations of further interest rate hikes from the BoJ. Market participants are increasingly convinced that the BoJ will tighten its policy again, a sentiment reinforced by data released earlier today showing a 1.8% decline in real cash earnings due to persistent inflation. Additionally, strong wage growth from last year is expected to continue, further supporting the case for policy tightening. This has led to rising Japanese government bond (JGB) yields, narrowing the rate gap between Japan and other economies, which in turn strengthens the JPY.
๐Meanwhile, lingering concerns over the potential economic impact of US President Donald Trump's trade policies and a possible global trade war continue to boost the JPY's appeal as a safe-haven asset.
๐On the other hand, the USD remains under pressure, hovering near its lowest level since November, following Friday's weaker US jobs report. The disappointing data has fueled speculation that the Federal Reserve (Fed) will implement multiple rate cuts this year, further weakening the USD and weighing on the USD/JPY pair. Given this backdrop, the overall market sentiment favors JPY bulls, suggesting that the currency pair is likely to trend lower in the near term.
Personal opinion:
๐USD/JPY will continue to decline after disappointing economic data for the USD
๐Technically, in the short term, the USD is recovering slightly when it touches a strong support level - the lowest level since November 5, 2024. However, this upward recovery will not last long.
Analysis:
๐Based on important resistance - support zones combined with trend lines and SMA to come up with a suitable strategy
Plan:
๐Price Zone Setup:
๐Sell USD/JPY 147.40 - 147.50
โSL: 147.90 | โ TP: 147.00 โ 146.60 โ 146.20
FM wishes you a successful trading day ๐ฐ๐ฐ๐ฐ
๐The Japanese Yen (JPY) maintains its upward momentum against a broadly weaker US Dollar (USD) during the early European session on Monday, driven by expectations of further interest rate hikes from the BoJ. Market participants are increasingly convinced that the BoJ will tighten its policy again, a sentiment reinforced by data released earlier today showing a 1.8% decline in real cash earnings due to persistent inflation. Additionally, strong wage growth from last year is expected to continue, further supporting the case for policy tightening. This has led to rising Japanese government bond (JGB) yields, narrowing the rate gap between Japan and other economies, which in turn strengthens the JPY.
๐Meanwhile, lingering concerns over the potential economic impact of US President Donald Trump's trade policies and a possible global trade war continue to boost the JPY's appeal as a safe-haven asset.
๐On the other hand, the USD remains under pressure, hovering near its lowest level since November, following Friday's weaker US jobs report. The disappointing data has fueled speculation that the Federal Reserve (Fed) will implement multiple rate cuts this year, further weakening the USD and weighing on the USD/JPY pair. Given this backdrop, the overall market sentiment favors JPY bulls, suggesting that the currency pair is likely to trend lower in the near term.
Personal opinion:
๐USD/JPY will continue to decline after disappointing economic data for the USD
๐Technically, in the short term, the USD is recovering slightly when it touches a strong support level - the lowest level since November 5, 2024. However, this upward recovery will not last long.
Analysis:
๐Based on important resistance - support zones combined with trend lines and SMA to come up with a suitable strategy
Plan:
๐Price Zone Setup:
๐Sell USD/JPY 147.40 - 147.50
โSL: 147.90 | โ TP: 147.00 โ 146.60 โ 146.20
FM wishes you a successful trading day ๐ฐ๐ฐ๐ฐ
Trade active
HIt +90 pips if you follow FM plan, congratulationsTrade closed: stop reached
Japan economic data is bad, USD/JPY rises to retest 147.40 then falls
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t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.