- The analysis of the price PPE / JPI indicates an increase in demand for a secure yah.
- Uncertainty over trade offers Muffled risk appetite.
- Goldman Sachs believes that the Fed this year will deliver three reductions of 25 BPS rates.
USD / JPI price analysis indicates the increase in demand for safe IES in the middle of fiscal and trade insecurity. At the same time, the dollar weakened due to the increase in expectations to reduce the rate this year.
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Jen rose on Tuesday because the fiscal care in the US looked for traders to seek security. The market participants are concerned about the trump huge account to reduce taxes and consumption. If it passes, it will add a debt load in the country.
At the same time, uncertainty over trade offers, muted risk appetite. As a deadline for reciprocal tariffs approaches, most countries have yet to sign contracts with the United States. Trump complained that Japan refused to import rice from the United States, despite the lack. Moreover, he warned of letters that announce high tariffs of partners that would not be accepted to the US trading conditions.
By the way, the dollar was fragile because the markets are increasingly slaughtered on reducing the rates of Nah. The impact of tariffs on the American economy has so far been turned off. However, the labor market has grown significantly. As a result, Goldman Sachs believes that Fed will provide three reductions in 25 Bps this year.
Meanwhile, economists expect further softness in the upcoming report on the nonfarm salary. It could put more pressure on feeding to reduce interest rates.
Today Events USD / JPI
- Goya Governor Ueda speaks
- Presiding Chair Powell Speaks
- ISM Production of PMI
- Complete job opening
USD / JPI technical price analysis: carry EIE 142.55 after trendline piercing
On the technical side, the price of USD / JPI has made a turning point move, piercing beneath its shallow bakar. At the same time, the price is traded well below 30ths. Meanwhile, RSI is approaching a reseller region, which indicates a strong chest bias.
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Throundtrend began after a sharp reversal at the level of 148.02. The bears pushed the price below 30ths. Moreover, the price began to create lower top and best, respecting SMA as resistance. The recent trendline interruption consolidated bear bias, with the following target at the level of 142.55.
After such an steep, USD / JPI can pause at 142.55. However, the bear bias will remain until the price remains below the SMA. Pause below 142.55 would increase potential for below.
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