USDJPY: SELL 150.10, SL 150.80, TP 149.30 | 20 February 2025

Event to pay attention to today:

15:30 EET. USD - Unemployment Claims

USDJPY:

On Thursday, the Japanese yen (JPY) received strong support, taking the USD/JPY pair to its lowest level since 9 December, near the mid-150.00s during the Asian session.This was due to strengthening expectations that the Bank of Japan (BoJ) will raise interest rates, which in turn pushed Japanese government bond (JGB) yields to the highest level in over a decade. The narrowing of the rate differential between Japan and other countries is a key factor in the ongoing flow of funds towards the low-yielding yen.Meanwhile, US President Donald Trump's new tariff threats are reducing investors' appetite for risky assets, as evidenced by new declines in stock markets and further demand for the safe-haven yen. The US Dollar (USD) is also encountering challenges in attracting buyers, despite the hawkish FOMC meeting minutes released on Wednesday, which is further contributing to the USD/JPY pair's decline.The latest decline confirms a break below 151.00 and suggests further weakness.

Trade recommendation: SELL 150.10, SL 150.80, TP 149.30

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