After last week’s U.S. jobs report, the dollar–yen rate fell by more than 4 yen.
This week, there has been almost no buying back of the dollar. This means the earlier buying positions have already been closed, and positions are now balanced.
Yesterday, Steve Millan from the CEA was nominated as a candidate for the Federal Reserve Chair. He is known for supporting the Mar-a-Lago proposal. If he becomes the Chair, there is a high chance the U.S. dollar will become weaker.
In any case, because there is a strong possibility that the Federal Reserve will lower interest rates soon, the dollar is expected to continue struggling to rise.
Expected Dollar/Yen range: 145.90 – 147.60 (61.8%)
Note: This information does not guarantee profits. Please make your own decisions when trading.