
Because the U.S. announced a 25% tariff on Japanese goods, people now think the Bank of Japan will not raise interest rates soon. This caused more people to sell the yen. Also, U.S. long-term interest rates went up, so the USD/JPY price rose to 146.97 during New York trading. However, it did not reach 147 and then went down. There may be many people who want to sell and take profits around 147.
Some people think that tariffs will make Japan’s trade deficit worse, so they are selling the yen, which pushes USD/JPY up. But tariff talks will continue, and this may add pressure to stop the yen from getting too weak.
Many traders have already finished buying back their short USD/JPY positions, but there is still some strong selling of the yen, so the USD/JPY price may not fall much.
If the price goes above 147, the next target is the high of 148.02 from June 23.
USD/JPY Expected Price Range: 145.90 – 147.00
Note: This information does not guarantee profits. Please make your own decisions when trading.