USDJPY Analysis 25.04.2019

The Japanese yen rose slightly against most major currencies, especially the US dollar, as the focus on the central bank's monetary policy committee meeting continued this week.

At 05:45 GMT, the USDJPY dropped 0.25% to 111.84 from the opening levels at 112.16, after reaching a low of 111.82, while the highest at 112.25.

The markets are currently looking for the outcome of the BoJ meeting, during which the Bank of Japan monetary policymakers may keep interest rates at negative levels of 0.10% in conjunction with the disclosure of the monetary policy statement and ahead of the press conference of Japanese Governor Haruhpuku Kuroda in the Japanese capital Tokyo.

In another context, markets are looking forward to what Japanese Prime Minister Shinzo Abe will meet with EU leaders before heading to Washington for a summit with US President Donald Trump, during which he is expected to discuss a trade deal with Japan and the United States. To obtain an extension of the exemption of his country from falling under the penalty of economic sanctions on Iran and Iran's oil importers.

On the other hand, investors are looking ahead to the US economy to release the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US gross domestic product, which could reflect a rise of 0.7% from 0.3% in February. , And the core reading of the index itself may rise 0.2% from 0.1% in February.

This comes in conjunction with the reading of the index of requests for aid, which may show a rise of 7 thousand applications to 199 thousand applications during the last week last Saturday, as may show the reading of the index of continuing requests for a rise by 29 thousand applications to 1,682 thousand applications during the week in the past 13 This month, before we see the US Treasury Department's semi-annual report on international economic and exchange rates.

Technical analysis:

The USD / JPY pair attempted to break through the 112.14 level but started today with a bearish bias to settle below this level, keeping the bearish scenario intact so far and the price needs to break the 111.80 level to confirm the continuation of the bearish trend, which is next target at 110.08.

Stochastic is providing a negative cross signal now to support the bearish outlook while noting the importance of stability below 112.14 to maintain the suggested bearishness.

The trading range for today is among the key support at 111.00 and resistance at 112.50

The general trend for today is bearish