In the Tokyo market at the start of the week, investors sold yen due to a positive market mood. The price of USD/JPY rose to 149.95 after confirming strong support around 149 yen. In the European market, selling pressure near 150 yen pushed the price back to the middle of the 149 yen range.
However, in the U.S. session, a stronger-than-expected March PMI (Purchasing Managers’ Index) report led to more dollar buying. Additionally, U.S. President Donald Trump suggested easing tariffs for certain countries from April 2, which further weakened the yen.
As USD/JPY broke above last week’s high of 150.14, more stop-loss orders were triggered, pushing the price up to 150.75, closing at a high level.
Today, U.S. new home sales and consumer confidence data will be released. If the results are strong, the dollar may rise further against the yen. However, since the market is unstable, weak data could quickly reverse the trend, so caution is needed.
USD/JPY Price Range Forecast: 151.20 – 150.20
Note: The above content does not guarantee profits. Please make your own decisions when trading.