USD/JPY was a contact softer. Pair was final at 144.17 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong word.
Some consolidation in USD/JPY is probably going
“Every day momentum turned delicate bearish however decline in RSI exhibits indicators of moderation. 2-way trades probably. Help subsequent at 143.10, 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.”
“BoJ’s Ueda stated Japan’s underlying inflation remains to be under 2%, and extra knowledge is required on wage features and tariff results earlier than tightening additional. He reaffirmed that present coverage stays accommodative and under the impartial charge – nothing new.”
“As a substitute, we opined the priority is round US tariffs on Japanese items after Trump doubled down, seeking to impose 30 – 35% tariff on Japan. Some consolidation in USD/JPY is probably going within the vary of 142.50 – 144.60 as markets monitor if a deal can be reached earlier than ninth July.”
