Before the tariffs imposed by Trump, there was a trend of selling the yen. The USD/JPY rose to 150 yen but then fell to 149.11 yen in the European market. However, just before the tariffs were imposed, in the New York market, buying of yen-cross currencies began, which pushed USD/JPY back up to 150.25 yen.
At 5:00 AM Japan time, after the President signed the executive order, USD/JPY rose to 150.48 yen. The market reacted with selling the yen, but after more details were revealed, buying of the yen returned, and USD/JPY was pushed back down to around 149 yen.
In the end, the market’s main focus was not the dollar, but rather the yen. With the tariffs now temporarily over, the market is likely to refocus on monetary policy and the economy. Today, attention will be on the ISM non-manufacturing report, and tomorrow, focus will shift to the employment report.
USD/JPY Price Range Prediction: 150.00 yen – 148.30 yen
Note: The above information does not guarantee profit. Please make your own decisions when trading.