In the Tokyo market, the USD/JPY stayed strong. Before the US inflation report, traders adjusted their yen-buying positions.
When the US February Consumer Price Index (CPI) was lower than expected, the dollar weakened, and USD/JPY dropped to 148.12. However, it quickly recovered to 149.19 as traders reversed their yen-buying positions.
Despite this, trade tensions due to Trump’s tariffs created uncertainty, leading to more yen buying as a safe option. In the end, USD/JPY fell back to the low 148 range. Because Trump’s statements keep changing, the market is unclear, and yen buying may continue.
If today’s US Producer Price Index (PPI) and jobless claims data cause USD/JPY to rise again due to yen position adjustments, it could be a good chance to sell at a higher price.
USD/JPY Expected Range: 149.50 – 147.80
Note: This information does not guarantee profits. Please make your own decisions when trading.