Yesterday's analysis perfectly predicted today's market movement. The USD/JPY rebounded from the low of 140.00, recovered from the downtrend channel, and then encountered resistance and pulled back at 148.65. Sellers are currently testing the support level of 146. If this level is broken, it may decline further to the round - number levels of 145.00 and 143.50. If 146 holds, buyers will attempt to break through the resistance level of 148.65 and further aim for the 200 - day moving average at 149.60.
Today, the released U.S. retail sales and PPI inflation data will provide clues about the consumer situation and the wholesale inflation landscape. The market expects that after a 1.5% increase in March, U.S. retail sales will be flat at 0% in April. Meanwhile, the PPI is projected to rise 0.2% after a 0.4% decline in March. The USD/JPY rebounded from the low of 140.00, recovered from the downtrend channel, and then encountered resistance and pulled back at 148.65. Sellers are currently testing the support level of 146. If this level is broken, it may decline further to the round - number levels of 145.00 and 143.50.
Federal Reserve Chair Powell will also give a speech, likely reiterating the Fed's stance that it will not be hasty to cut interest rates again until the impact of Trump's tariffs on the economy becomes clearer.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
Today, the released U.S. retail sales and PPI inflation data will provide clues about the consumer situation and the wholesale inflation landscape. The market expects that after a 1.5% increase in March, U.S. retail sales will be flat at 0% in April. Meanwhile, the PPI is projected to rise 0.2% after a 0.4% decline in March. The USD/JPY rebounded from the low of 140.00, recovered from the downtrend channel, and then encountered resistance and pulled back at 148.65. Sellers are currently testing the support level of 146. If this level is broken, it may decline further to the round - number levels of 145.00 and 143.50.
Federal Reserve Chair Powell will also give a speech, likely reiterating the Fed's stance that it will not be hasty to cut interest rates again until the impact of Trump's tariffs on the economy becomes clearer.
you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
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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.