- The USD / JPI forecast shows the further dollar weakness.
- The American consumer feeling came to 50.8 compared to expectations from 53.1.
- Trump threats Tariff threats caused some insecurity on the market.
The USD / JPI forecast shows the further dollar weakness after reducing the U.S. Government’s credit rating. At the same time, market participants are concerned about progress in trade negotiations between the United States and its trading partners.
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The dollar fell on Friday after the data revealed a weak consumer feeling. According to the report, consumer feelings occurred in 50.8 compared to expectations from 53.1. An unexpected decline revealed that consumers were still not sure of the economy.
Moreover, Greenback started a week against most of its peers, including Yen. This happened after Moody reduced the U.S. Government’s credit rating, stating their growing size of the debt. It was another reason that traders throw dollar and buy Jen.
In addition, the demand for a safe woman increased after the report that Trump threatened tariffs in countries that do not negotiate in good faith. The United States has announced a shop in Great Britain and China, which has amplified the feeling. However, they seemed to discuss India, Japan and South Korea. As a result, Trump’s threats of tariff threat caused some uncertainty in the market.
Meanwhile, colors policy makers are ready to keep mountaineering interest rates until the economy pushes the trump tariff impacts.
Today Events USD / JPI
The market participants do not expect any key economic editions of the United States and Japan.
Technical bag USD / JPI: Bears reach evil to support
On the technical side, the USD / JPI price retreated and approaching its trendline support. The price trades below 30ths, with RSI under 50, indicating bear bias. At the same time, the price reached the redevelopment level of 0.618 FIB, which can act as support.
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Therefore, USD / JPI could soon bounce more. The price kept the shallow multiplicity to appear through SMA, but respects the trendy line. Accordingly, the Usttrendnnd will continue if the bullocks return near the trendline support. Such an outcome would allow for a price to terminate above the level of resilience to 146.02 and 30ths. The bulls would probably break above the level of resilience at 148.51 to make a new high.
On the other hand, the break under Trendline would signalize the shift in feeling. This would allow the bears to re-set support level 142.55.
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