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Amidst the situation where the Japanese authorities are refraining from market intervention, there is a growing expectation that the timing of the US interest rate cut will be delayed, despite the resilience of the US economy. This is leading to a situation where there is a surge in dollar buying and yen selling, and it would be wise to keep an eye on the issues this week as they could be key turning points.
- The US first-quarter GDP will be announced on April 25th.
- On April 26th, the Japanese interest rate decision will be made, and the US March Personal Consumption Expenditures Price Index will be released.
- The US FOMC meeting is scheduled for May 2nd.
USDJPY has been pushing strongly higher since breaking above the 152 level previously, indicating a strong rise towards the trendline resistance and possibly even higher towards the peak resistance. If there is a short-term decline, it is expected to be pushed back towards the trendline area before showing a renewed upward trend. We will then see whether it breaks above the peak resistance to extend the trend or experiences a pullback according to the trend.
Given the significant issues lined up from this week to next, it seems necessary to continuously monitor the variables.
The expected movements are as follows:
First, a temporary retreat to around the 154 level followed by a medium-term rise to the 158 level.
Second, a medium-term rise to the 158 level followed by a long-term decline to around the 152 level.
If there are any unexpected movements, we will adjust our strategy accordingly.
Amidst the situation where the Japanese authorities are refraining from market intervention, there is a growing expectation that the timing of the US interest rate cut will be delayed, despite the resilience of the US economy. This is leading to a situation where there is a surge in dollar buying and yen selling, and it would be wise to keep an eye on the issues this week as they could be key turning points.
- The US first-quarter GDP will be announced on April 25th.
- On April 26th, the Japanese interest rate decision will be made, and the US March Personal Consumption Expenditures Price Index will be released.
- The US FOMC meeting is scheduled for May 2nd.
USDJPY has been pushing strongly higher since breaking above the 152 level previously, indicating a strong rise towards the trendline resistance and possibly even higher towards the peak resistance. If there is a short-term decline, it is expected to be pushed back towards the trendline area before showing a renewed upward trend. We will then see whether it breaks above the peak resistance to extend the trend or experiences a pullback according to the trend.
Given the significant issues lined up from this week to next, it seems necessary to continuously monitor the variables.
The expected movements are as follows:
First, a temporary retreat to around the 154 level followed by a medium-term rise to the 158 level.
Second, a medium-term rise to the 158 level followed by a long-term decline to around the 152 level.
If there are any unexpected movements, we will adjust our strategy accordingly.