- summary:
- Usdjby pair has risen with more than one percent in the last five trading sessions, but there is strong evidence to expect a decrease.
Usdjby rose on Monday, and gained 0.1 % for trading at 148.85 during the Asian session. The currency pair has increased by 1 % in the last five trading sessions supported by return in the revenue of the US Treasury. However, the Japanese yen is likely to make aggressive gains from Greenback.
Despite the recent gains made by the dollar against the yen, it is possible that the trend will be turned in the coming weeks if the Bank of Japan continues to raise interest rates in April. Japan’s labor unions have negotiated an increase in wages and salaries by about 5.1 %.
Meanwhile, the lack of high -impact Japanese economic data raises the possibility of maintaining its gains on Monday. Also, US retail sales data will be outside, and fresh fluctuations are expected to pump into a USDJPY pair.
However, the American economy was shown in the red, which President Donald Trump is most likely confirmed in a transition. This does not herald a good dollar, and it is possible that the Federal Reserve is probably low in interest rates several times this year.
Moreover, this opinion is supported by medium concerns about the impact of commercial definitions on the economy. Attention has turned to the trade relations of the United States of America, which has been tense since last week amid harsh tariffs and counter -measures. This puts a USDJPY pair to increase the declining pressure.
Usdjpy prediction
The USDJPY axle mark is 148.57 and the work above this level is controlled by buyers. The husband is likely to face the first resistance in 149.04. However, the procedure can be broken above this level and is likely to test the second barrier at 149.50.
Instead, the transition to less than 148.57 will turn the momentum to the negative side. With sellers control, the husband is likely to move down to find the first support at 148.15. The lower level of this level will invalidate the upper trend. This momentum can extend the negative side of the second support test in 147.80.
