Hello to all our subscribers!
Please share your personal opinions in the comments. We kindly ask for your support through likes and subscriptions.
As the value of the yen fluctuates near its low point, it is anticipated that intervention by the Japanese foreign exchange authorities will commence if the yen-dollar exchange rate exceeds 152. Meanwhile, the timing of the Fed's interest rate cuts is expected to be postponed from June to the latter half of this year, which is currently bolstering the strength of the dollar. The direction of USDJPY will largely depend on the results of this week's inflation index indicators and the form of intervention by the Japanese foreign exchange authorities.
- On April 10th, the release of the US Consumer Price Index for March and the minutes of the Federal Open Market Committee meeting will occur.
- On April 11th, the ECB Monetary Policy Meeting and the release of the US Producer Price Index for March will take place.
- On April 15th, the US Retail Sales Index will be released.
The USDJPY chart is depicting an upward trend, yet it continues to struggle in breaking the resistance at the 152 level. If it surpasses this level, there could be a significant uptrend, possibly even breaking through the resistance trendline. However, failure to breach the resistance at the 152 level could lead to a retreat towards the 149 level, and further decline towards the 146 level if support is not established in this range.
To summarize the anticipated movements:
Firstly, a retreat to the 149 level following resistance at the 152 level, leading to medium to long-term growth.
Secondly, a retreat to the 146 level after failing to breach the resistance at the 152 level, followed by long-term growth.
Thirdly, a short-term rise to the 153.2 level after breaking through the 152 level.
All strategies will be determined based on the 152 level. Adjustments will be made if the actual movements deviate from the expectations.