The U.S. trade court ordered to stop the Trump tariffs, but there will likely be more court battles with higher courts. This is making the market more uncertain and increasing the risk of new problems between the U.S. and China. Also, President Trump said that Fed Chair Powell is “wrong.” On top of that, there are still concerns about U.S. government finances. Because of these things, the U.S. dollar may become weaker.
At the same time, Bank of Japan Governor Ueda said he is more open to raising interest rates because of higher prices in Japan. If the market becomes unstable, investors may buy Japanese yen as a safe choice.
Last week, the dollar-yen price moved into the “Ichimoku cloud” (a technical chart zone) but could not break through the top. For now, the lower part of the cloud may stop the dollar from going up. The price may go down to test the lower line of the Bollinger Bands (another technical tool).
Today’s expected USD/JPY range: 143.40 – 144.30
This week’s expected USD/JPY range: 142.00 – 145.30
Note: This information does not guarantee profits. Please make your own decisions when trading.