- summary:
- Usdjpy pair on optimistic momentum after the interest rate decision in the Federal Reserve this week, but the basic basics are not strong.
Usdjby was in the second consecutive session on Friday, when merchants continued to bet on the dollar after the interest rate of the Federal Reserve on Wednesday. The pair increased by 0.1 % for trading at 148.97 at the time of writing this report, and staying on his path to register the first weekly gain in a row in 2025.
However, the Japanese yen still rises by 5.33 % against the dollar and is likely to limit the prevailing commercial tariff war from Greenback’s gains. However, the short -term performance of the dollar is likely to be paid through the decision of the Federal Reserve to obtain interest rates in a 4.25 % -4.50 %.
In addition, the American labor market printed strong personalities on Wednesday, which reduced tensions on the path of the economy. Initial unemployment claims printed on 223 thousand for the week ending March 13, less than the average expectations of analysts of 224 km. This will provide support to the dollar, especially in the absence of highly influential data from Japan.
The Bank of Japan’s decision also encouraged the high prices of this week, and the USDJPY pair is preferred to stay in the coming days. Moreover, Federal Reserve Chairman Jerome Powell stated that they are not pushing to reduce interest rates because the focus is still on taming the inflationary effects of the continuous mass tariff war.
USDJPY expectations
The momentum on USDJPY calls for more bullish direction above the axis mark in 148.72. With the control of buyers, the husband is likely to rise more and face the first resistance at 148.27. However, the strongest momentum will show this barrier and potentially test the second resistance at 149.70.
Instead, returning to less than 148.72 will indicate the beginning of the declining control. In this case, USDJPY is likely to find the first support in 148.44. The collapse under this level will nullify the bullish direction. In addition, the declining momentum of the second support test can be enhanced in 148.23.
