USD/JPY drifted decrease this morning, breaking previous 144-support. Pair was final at 142.86 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong be aware.
Dangers stay skewed to the draw back
“Tankan survey got here in higher than anticipated for giant and small producers, supporting the view for BoJ coverage normalisation. Elsewhere, Japan’s chief commerce negotiator Akazawa stated that Japan continues to be exploring whether it is potential to succeed in a commerce settlement forward of 9 Jul deadline.”
“Trump had threatened to impose a contemporary tariff price on Japan and commented on Japan not importing US rice when Japan is going through an enormous rice scarcity.”
“Bullish momentum on day by day chart light whereas RSI continues to fall. Dangers stay skewed to the draw back. Help subsequent at 142.50 ranges. Resistance 144.40/50 ranges (23.6% fibo, 21, 50 DMAs), 146.40 (100 DMA) and 147.15 (38.2% fibo retracement of 2025 excessive to low.”
