In the Tokyo market, people bought Japanese yen against many other currencies, especially the Canadian dollar. This pushed the U.S. dollar up against the yen. Investors reacted positively to the news that U.S. tariffs on Canada and Mexico were extended for one more month. The USD/JPY rate reached 155.40.
However, when China announced new tariffs against the U.S., the USD/JPY rate fell to 154.83 as investors bought more yen for safety.
Later, in the New York market, U.S. job data (JOLTS job openings) was weaker than expected. This caused investors to sell the U.S. dollar, making USD/JPY fall further to 154.18. The market continued to move up and down sharply.
President Trump plans to hold talks with China. Depending on the results, investors may buy more yen for safety, causing the USD/JPY rate to drop further.
The Trump administration continues to use high tariffs to negotiate deals. This creates high market volatility, which may lead to more investors buying yen for safety.
USD/JPY Expected Price Range: 155.00 – 153.80
Note: This information does not guarantee profit. Please make your own decisions when trading.