USDJPY: SELL 148.80, SL 149.40, TP 147.85 | 01 Abril 2025

USDJPY:

The Japanese yen (JPY) strengthened against its US counterpart for the second consecutive day on Monday, reaching a one-week high during the Asian session. The ongoing influence on global risk sentiment is attributed to concerns over US President Donald Trump's imposition of so-called retaliatory tariffs on 2 April and geopolitical risks, which are proving to be key factors driving flows towards the safe-haven yen.

Meanwhile, Friday's consumer inflation data from Tokyo, Japan's capital, confirmed speculation that the Bank of Japan (BoJ) may raise interest rates in May. This is a notable deviation from the market's growing confidence in the Federal Reserve (Fed) resuming its rate-cutting cycle amid a tariff-driven slowdown in the US economy. It provides further incentive to push down yen yields.

Trade recommendation: SELL 148.80, SL 149.40, TP 147.85

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