The USD/JPY continued to quote down, following the downward trend of the USD and the yields of the UST. Last at levels of 142.55, FX analysts of OCBC Frances Cheung and Christopher Wong point out.
The USD/JPY continues with an aggressive downward trend
“In the publication of data this morning, the CPI was higher than expected, keeping alive the normalization plans of the Boj’s policy. Regarding the development of rates/commerce, the commercial negotiator of Japan, Akazawa, will have the third round of conversations with US officials, including Greer and Lutnick, starting today during the weekend and will return to the US With Besent on May 30. “
“During the night, the PM ishiba also maintained a 45 -minute phone call with Trump to exchange opinions on rates, but did not mention anything specific about rates. Depending on the situation, Ishiba could meet Trump in person next month.”
“The USD/JPY continued to quote down. The daily impulse is slightly bassist while the RSI fell. Next support in 142.40, levels of 142. Resistance at levels of 144.40/60 (DMA of 21, fibonacci setback of 23.6% of the maximum to a minimum of 2025), 145.80 (DMA of 50). We maintain our short position in USD/JPY (entry at 148 according to FX Weekly of May 13), with a goal around 141. SL in 151. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
