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With the yen continuing its weakness against the dollar, the market is closely watching for any additional measures from the Japanese authorities following their previous verbal intervention. If the weakness persists until the end of this week, the market assesses a higher likelihood of intervention from the authorities.
From the U.S. side, employment indicators will be released starting this week, and there is a high possibility of significant price fluctuations in the dollar.
- On April 3rd, Eurozone Consumer Price Index for March, U.S. ADP Nonfarm Employment Change, and a speech by Fed Chair Powell are scheduled.
- On April 5th, U.S. Nonfarm Payrolls and Unemployment Rate for March will be announced.
Currently, the price of USDJPY is facing resistance at the 152 level, limiting its upward movement. The future direction, whether it breaks through this range or retreats, will likely be determined by upcoming economic indicators or further intervention from the Japanese authorities. Considering various factors, three potential movements can be summarized:
First, retreat from the resistance at 152 level to around 149 level, followed by medium to long-term upward movement.
Second, retreat from the resistance at 152 level to the trend low at 145 level, followed by long-term upward movement.
Third, breakthrough of the 152 level and short-term upward movement towards the trend high at 155 level.
All strategies will be based on the 152 level as a reference point. In case of unexpected movements, strategies will be adjusted accordingly.
Please share your personal opinions in the comments. We ask for your support through likes and subscriptions.
With the yen continuing its weakness against the dollar, the market is closely watching for any additional measures from the Japanese authorities following their previous verbal intervention. If the weakness persists until the end of this week, the market assesses a higher likelihood of intervention from the authorities.
From the U.S. side, employment indicators will be released starting this week, and there is a high possibility of significant price fluctuations in the dollar.
- On April 3rd, Eurozone Consumer Price Index for March, U.S. ADP Nonfarm Employment Change, and a speech by Fed Chair Powell are scheduled.
- On April 5th, U.S. Nonfarm Payrolls and Unemployment Rate for March will be announced.
Currently, the price of USDJPY is facing resistance at the 152 level, limiting its upward movement. The future direction, whether it breaks through this range or retreats, will likely be determined by upcoming economic indicators or further intervention from the Japanese authorities. Considering various factors, three potential movements can be summarized:
First, retreat from the resistance at 152 level to around 149 level, followed by medium to long-term upward movement.
Second, retreat from the resistance at 152 level to the trend low at 145 level, followed by long-term upward movement.
Third, breakthrough of the 152 level and short-term upward movement towards the trend high at 155 level.
All strategies will be based on the 152 level as a reference point. In case of unexpected movements, strategies will be adjusted accordingly.