USD/JPY: outlook for April 17-21

USD/JPY dropped to 108.90 as investors fled high-risk assets amid geopolitical tensions among North Korea and Syria. The US dollar suffered additional losses after Donald Trump said in his Wall Street Journal interview that he prefers a low-interest rate policy and that a strong dollar would ultimately hurt US economy. Overall, sharp losses for global stocks, Trump’s willingness to talk down the USD and aggravation of numerous political conflicts offered a significant boost to the yen.

Next week, geopolitical tension sparked in the Middle East and Korean peninsula will still be supportive for the yen. On April 15, traders will be keeping a closer eye on the North Korean Day of the Sun holiday as another launch of missiles is expected. This might result in additional gains for the yen on next Monday. Japan’s economic calendar is light with Bank of Japan Governor Kuroda’s speech and trade balance data coming on Thursday. The latter one should be improving after an eventful April. A great package of statistical releases will come out of the United States next week. Watch for empire state manufacturing index on Monday, building permits, housing starts, capacity utilization rate – on Tuesday and manufacturing figures – on Thursday. Another key event to focus on is the speech of Treasury Secretary Mnuchin scheduled for April 20, 8:15 pm MT time. He might touch upon the border-adjustment tax and incoming fiscal policies. Towards the end of the week, the US dollar might get a chance to recoup some of its earlier losses. Investors will realize that a weaker USD is unattainable goal for the President willing to introduce pro-growth policies. Also, we should bear in mind the fact that the Fed remains resolutely independent from the government. So, on Friday, the FOMC member Kashkari might try to convince market participants that the Fed will definitely hike if it sees additional signs of improving US economic conditions.

On the technical chart of USD/JPY, a strong support at 108.85 doesn’t allow quotes to slide lower. Its break will allow us to target 107.70 (November 15 low) and 106.50 (61.8% Fibo level traced from last year low) levels. On the upside, we see some firm resistances at 109.85, 111.10 (38.2% Fibo level) and 112.20 (March 31 high). 

Menyerupai

29.02.2024 03:35 XTIUSD Bertahan Di Sekitar Level 78,00 Menjelang Data Core PCE Price Index

Western Texas Intermediate (WTI) menguat dari penurunan kemarin dan saat ini diperdagangkan di sekitar level 78,15 pada hari Kamis (29/02/2024). XTIUSD mencoba pulih dan..Sementara OPEC+ yang mempertimbangkan

14.02.2024 11:53 XTIUSD Pertahankan Momentum Kenaikan Untuk Hari Ke Tujuh

Harga minyak mentah acuan AS West Texas Intermediate (WTI) masih dalam jalur melanjutkan kenaikan untuk hari ke tujuh secara beruntun, pada Rabu (14/02/2024). Menurut laporan pasar minyak bulanan OPEC, ada kekhawatiran mengenai kepatuhan kelompok ini terhadap pemangkasan produksi

30.01.2024 11:00 Ketegangan Geopolitik Meningkat, Minyak di Kisaran Tinggi

Pasar saham Asia melemah pada perdagangan Selasa (30/01/2024), terseret oleh kasus likuidasi perusahaan raksasa properti China..Kegelisahan investor terhadap meningkatnya ketegangan di Timur Tengah telah mengendalikan sentimen risiko.

Berita terbaru

02.04.2024 07:03 Yen Terus Terpuruk Mendekati Level Terendah Multi-Dekade

Yen Jepang gagal memikat para investor pada perdagangan Selasa (02/04/2024) meski ada peluang atas kemungkinan intervensi dan..Sentimen penghindaran risiko masih berpotensi memberikan kekuatan pada safe-haven

01.04.2024 08:22 Sanggupkan Emas Berlama-lama di Puncak?

XAUUSD naik ke rekor tertinggi baru pada perdagangan Senin (01/04/2024), di tengah meningkatnya spekulasi penurunan suku bunga..melanjutkan kenaikan kuat minggu lalu hingga membentuk level puncak baru sepanjang masa

01.04.2024 07:11 Sebagian Pasar Masih Libur, Yen Stabil di Bawah 152

Pasar saham Asia sebagian masih libur dan sebagian lagi menguat pada perdagangan Senin (01/04/2024), karena optimisme data pabrikan Tiongkok mendukung..potensi intervensi otoritas Jepang terhadap yen Jepang diperkirakan berada di zona 152 – 155 yen.