The USD/JPY rose to 150.94 yen in the Tokyo market but failed to reach 151 yen and then fell. In the European market, it climbed again to 150.76 yen but could not stay high. This showed that 151 yen is a strong resistance level.
In the New York session, weak U.S. economic data, such as the Consumer Confidence Index, led to more selling of the U.S. dollar. As a result, USD/JPY dropped below 150 yen and reached 149.56 yen.
Before the April 2 start of Trump’s tariffs, his statements may keep changing, creating uncertainty. Because of this, traders need to be careful. Also, with the end of the month and quarter approaching, sudden market moves may happen, so traders should watch their positions.
Expected USD/JPY Range: 150.40 – 149.20 yen
Note: The above information does not guarantee profit. Please make your own trading decisions.