- PRICE ANALYSIS IN USD / PAD indicates resistance in yen.
- Japan said Ishibu said the prime minister would remain despite the loss of most places in the upper house.
- Trump threatened 25% of the tariffs in Japan starting from 1. August.
PRICE ANALYSIS In USD / Pump indicates resistance in yen after Prime Minister Shiger has shone that he will remain in office despite the loss of Sunday elections. At the same time, the decline in dollar and treasury yields in the middle of tariff insecurity was supported by Jen.
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Jen rose on Monday after Ishibu said that the prime minister would remain despite the loss of most places in the upper house. A decision without most in the upper or lower house will be difficult for him. The changes of transient policies will become alike, making the appearance of the Japanese policy insecure. However, at the moment His trust has strengthened optimism.
However, there is uncertainty regarding trade talks between the United States and Japan. Trump threatened 25% of the tariff in Japan, starting from 1. August. If there is no agreement until then, the country depending on the weaker demand. This would complicate the look for fastening in the Japanese bank.
Meanwhile, the dollar was fragile because market participants lost hope for more trade offers. Meanwhile, the risk of global trade war escalates that countries are preparing to respond to larger tariffs. Such an outcome would further slow down the American economy, injuring Greenback.
Today Events USD / JPI
Participants in the market will continue to measure the impact of Japanese elections, because there are no key economic editions scheduled.
Technical price analysis USD / JPI Technical price: support for 146.01 in new trend
On the technical side, the USD / JPI price violated below the support of 148.02 to form new vines, further confirming the new trend. Price for trade under 30ths, with RSI below 50, favoring the bear bias.
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The new bias accompanied a double peak at the level of 149.01, accompanied by the RSI Divergence. The form revealed weakness in ascending, allowing bears to press the price below 30-SMA and support level 148.02.
After breaking below 148.02, the price retreated to re-set the level. If it refuses lower after re-behavior, it will form a lower low, suggesting the bear trend. In this case, the bears would target the support level 146.01. The break below this level would compensify the bear.
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