This week, Japan will have a long holiday (Golden Week), so there will be less trading of the Japanese yen. Because of this, prices may move more than usual.
The Bank of Japan will also have a meeting this week. There are rumors that, during last week’s G20 meeting, Bank of Japan Governor Ueda was asked to raise interest rates. Many people will watch carefully to see if there are any signs of an early rate hike.
Also, at the second round of U.S.-Japan trade talks, there may be hints that the U.S. wants a weaker dollar. If this happens, the dollar/yen rate may fall and test last week’s low of 139.89 yen.
Important U.S. economic reports like the ISM, GDP, and employment numbers will also be announced this week.
However, because the market is focusing mainly on trade tariffs, the reaction to these reports may not be strong.
Still, if the economic results are very different from expectations, prices could move sharply in one direction because of low trading during the holidays. Please be careful.
Today’s Expected Dollar/Yen Trading Range: 143.00-144.10
This Week’s Expected Dollar/Yen Trading Range: 141.00-145.00
Note: The above is not a guarantee of profits. Please make your own decisions when trading.