- Price analyze in USD / JPI shows the power in yen after the comment of UEDA.
- Battle will increase rates if the economy is expedited again.
- The data was discovered by a soft business activity in the American production sector.
Pricing price / JPI analysis shows the strength in Jena after Boj’s Ueda said that the Central Bank would increase rates if the growth quickly speeds up. At the same time, autumn has strengthened as a safe demand, which was presented to renewed trade tensions between the United States and its trading partners.
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The Governor of the Bank of Japan says UEDA said Tuesday that the Central Bank would increase rates if the economy is rapidly accelerating. He also noticed that salary growth must speed up again. Currently, Trump tariffs darkened the look for the economy. Therefore, it may not be the best time to hiking interest rates. However, if the economy jumps after short returns, policy makers will be ready for a walk. This news was amplified by Jen.
In addition, Jen continued his rally as a safe demand for a refuge rejected at trade tensions. Trump promised to double tariffs on the import of steel and aluminum. This move is likely to increase trade tensions between the United States and its partners, such as Canada and the eurozone. Moreover, it revealed that Trump continued its tariff campaign. Therefore, the risk of the global trade war remains.
By the way, the dollar was facilitated after the data was detected by a soft business activity in the American production sector. ISM PMI came to 48.5, below the estimate of 49.3. The decline showed the effects of Trump tariffs on the American economy. Merchants will now wait to see employment figures.
Today Events USD / JPI
USD / JPI Technical Analysis Price: Bears cause support 142.55
On the technical side, the price of USD / JPI tests great support at 142.55. Skinny below 30-SMA with RSI under 50, suggesting bear bias. The price was recently reversed on the fluff when she broke and stayed below 30ths.
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In addition, although there was a strong jump at the level of 142.55, he only made lower. This is a sign that the bulls could not withstand the move above the 30th. As a result, the bears returned to the USD / JPI pushing under SMA.
Currently, the price is a challenging support of 142.55. The break below this level will make a lower low, confirming the continuation of trends reduction. Moreover, such a move would allow bears to target support level 140.01.
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