The Bank of Japan’s Governor Kazuo Ueda commented again on 3 June that the BoJ is ready to continue raising rates if economic data are generally in line with forecasts, but there remains some intrigue whether the next hike could be as early as next month or have to wait until September. The Fed meanwhile is unlikely to cave to on-and-off pressure from the American government to cut rates given uncertainties over trade and tariffs’ potentially larger impact on inflation.
Buying demand for dollar-yen seems to be quite limited, with volume having dropped significantly since the peak in the first half of April, similar to several other major forex pairs. ¥140 remains a potentially strong support but the price is unlikely to retest there seriously in the near future unless the NFP and next week’s inflation are significantly lower than expected.
¥142 is a possible short-term support while the main initial resistance is around ¥146. A range between these areas seems on the whole more likely than a new directional trend unless upcoming data deliver notable surprises or trade issues intensify significantly.
This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
Buying demand for dollar-yen seems to be quite limited, with volume having dropped significantly since the peak in the first half of April, similar to several other major forex pairs. ¥140 remains a potentially strong support but the price is unlikely to retest there seriously in the near future unless the NFP and next week’s inflation are significantly lower than expected.
¥142 is a possible short-term support while the main initial resistance is around ¥146. A range between these areas seems on the whole more likely than a new directional trend unless upcoming data deliver notable surprises or trade issues intensify significantly.
This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.