Early in Tokyo trading, news said President Trump is thinking about choosing the next Federal Reserve (FRB) chair earlier than expected. This made people sell the US dollar. They expect a possible early interest rate cut because of pressure on the current chair, Mr. Powell, who has been careful about cutting rates.
Also, many people worry that the central bank is losing its independence. This reduced trust in the dollar and made more people sell it. As a result, USD/JPY dropped to 143.76 yen. Later, it went back up to 144.53 yen, but the price still has trouble rising more.
Since the Middle East situation is calmer now, it is easier for people to sell the dollar. However, we should be careful about possible buying before the weekend.
The dollar may still fall more because of other problems, such as trade talks and worries about the US government spending too much.
USD/JPY Forecast Range: 143.80 – 144.90
Note: This information does not guarantee profit. Please make your own decisions when trading.