At the end of last week, President Trump said he would raise extra taxes (tariffs) on aluminum and steel to 50%. He also said China broke their agreement, which made people worry again about U.S.-China trade problems. Because of this, people started selling U.S. dollars.
Later, a U.S. report showed that factory activity was weaker than expected for the third month in a row. This made the dollar fall to 142.54 yen.
These results suggest that Trump’s tariffs might hurt the U.S. economy. As a result, more people may sell dollars. The dollar also dropped below an important technical level, which could lead to more selling.
Expected USD/JPY Price Range: 142.30 – 143.1 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.