- The USD/JPY falls for the third consecutive negotiation day while the Japanese yen exceeds the rest.
- The Uchida Bojida keeps doors open to future increases in interest rates with the hope of constant salary growth.
- The US dollar faces sales pressures before Fed Powell speech.
The USD/JPY pair extends its loss streak for the third day of negotiation on Thursday. The pair faces sales pressure while the Japanese Yen (JPY) continues to exceed the rest, hoping that the Bank of Japan (Boj) will raise interest rates again despite the high global economic uncertainty due to the consequences of tariffs imposed by the president of the United States (USA), Donald Trump.
And in Japanese price this week
The lower table shows the change percentage of Japanese Yen (JPY) compared to the main currencies this week. Yen Japanese was the strongest currency against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.49% | 0.16% | -0.19% | 0.62% | 0.15% | 0.83% | 0.45% | |
| EUR | -0.49% | -0.20% | -0.13% | 0.63% | 0.29% | 0.83% | 0.44% | |
| GBP | -0.16% | 0.20% | 0.25% | 0.83% | 0.50% | 0.95% | 0.64% | |
| JPY | 0.19% | 0.13% | -0.25% | 0.81% | -0.29% | 0.16% | 0.41% | |
| CAD | -0.62% | -0.63% | -0.83% | -0.81% | -0.19% | 0.20% | -0.18% | |
| Aud | -0.15% | -0.29% | -0.50% | 0.29% | 0.19% | 0.43% | 0.12% | |
| NZD | -0.83% | -0.83% | -0.95% | -0.16% | -0.20% | -0.43% | -0.41% | |
| CHF | -0.45% | -0.44% | -0.64% | -0.41% | 0.18% | -0.12% | 0.41% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Japanese yen from the left column and move along the horizontal line to the US dollar, the percentage change shown in the picture will represent the JPY (base)/USD (quotation).
The operators have become increasingly confident that the BOJ will upload interest rates again this year after the comments of the Vice Governor of the Bank of Japan (Boj), Shinichi Uchida, earlier this week, that “salaries are expected to continue increasing” since the Japan labor market is very adjusted, despite the fact that the expectations of medium and long -term inflation are probably “stamped temporarily.”
Meanwhile, the US dollar (USD) is also low yield before the speech of the president of the Federal Reserve (Fed), Jerome Powell, at 12:40 GMT at a Thomas Laubach research conference in Washington. Financial market participants want to know if the Fed will continue to maintain their position to maintain interest rates in the current range of 4.25% -4.50% despite the weak data of the US consumer price index (CPI) for April and a temporary truce in trade between the US and China.
Before Fed Powell speech, the US dollar index (DXY), which tracks the value of the dollar against six main currencies, is negotiated down close to 100.80.
The USD/JPY decoced significantly from a maximum of almost six weeks of 148.54 to about 145.50 on Thursday. Even so, the torque is maintained above the 20 -day exponential (EMA) mobile average, which is negotiated around 145.18, indicating that the short -term trend remains bullish.
The 14 -day relative force (RSI) index struggles to break over 60.00. A new bullish impulse would be triggered if the RSI falls below the level of 60.00.
An upward movement towards the psychological level of 150.00 and the maximum of March 28, 151.21 would occur if it breaks above the maximum of May 13, 148.57.
The asset would face more falls towards the minimum of April 22, 139.90 and the minimum of July 14, 2023 of 137.25 if it breaks below the minimum of May 7, 142.42.
USD/JPY DAILY GRAPH
Economic indicator
Powell’s speech, member of the Fed
Jerome H. Powell assumed the position as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to complete a mandate without expiration. On November 2, 2017, President Donald Trump appointed Powell as the next president of the Federal Reserve.
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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.
