Last week, the U.S. central bank leader (Chair Powell) said there is no need to rush changes to interest rates. Because of this, the U.S. dollar is expected to stay strong for now. Also, people have hope that not only U.S.-China talks, but other trade talks between countries, will go well. So the dollar-yen rate is expected to stay steady this week. However, if the talks do not go well and break down, the reaction could be strong.
Also, U.S. President Trump called Chair Powell names like “stupid” and “too slow,” which means Trump may continue to pressure the U.S. central bank. Because of this, the market may not move strongly in one direction, and there may be a limit to how high the dollar can go.
Today’s USD/JPY Forecast Range: 144.80 – 145.80
This Week’s USD/JPY Forecast Range: 143.50 – 147.00
Note: This is not a guarantee of profit. Please make your own decisions when trading.