Last week, both Japan and the U.S. had important meetings about their money policies. Japan showed signs of raising interest rates, while the U.S. showed caution about lowering them. Because of this, the dollar rose, and USD/JPY went up to 150.91. Many people expected the dollar to get stronger in the short term.
However, the U.S. job report at the end of the week was much weaker than expected. This caused more people to believe the U.S. might lower interest rates soon. As a result, the USD/JPY dropped to the low 147 range.
Some believe the dollar fell too much too quickly, so it may go up slightly to fill the price gap.
Still, many now think the U.S. might lower rates as early as September. Also, President Trump is putting pressure on the Federal Reserve to cut rates, which could lower trust in the U.S. dollar. Because of these factors, USD/JPY may keep falling.
Today’s Expected Range for USD/JPY: 146.80 – 148.60 yen
This Week’s Expected Range for USD/JPY: 145.80 – 149.00 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.