USD / JPY
Yesterday, the Japanese yen managed to break above the technical resistance of 107.00, which is the March 28 highs and showed an increase of 61 points. As expected, the basis of this growth was the increase in stock indices. The American S & P500 grew by 0.69% on Thursday. This morning, some were disappointed by household expenditure. According to the February data, monthly expenses fell by 1.5% against expectations of -0.6%. On an annualized basis, costs fell from 2.0% YoY to -0.9% YoY with expectations for a smaller decline to 0.3% YoY. But it came out even more disappointing because of Trump's new tariffs on Chinese goods. The list showed an increased of additional $100 billion which amounts to $ 150 billion. According to the United States, this action was made in response to China regarding the previous "unfair" answer to the initial US tariff increase, although the answer was limited to 3 billion dollars. Today, Chinese stock exchanges do not have operations in line with the national holiday but the Japanese Nikkei225 index was retained in the positive zone, with an increase of 0.06%. The Australian S & P / ASX200 shows + 0.05%, while the Indonesian IDX Composite is down to 0.14%.
In the morning, the speech of the US President Donald Trump caused the yen to fall by 45 points, and during the second half of the Asian session, the Japanese currency took advantage of this fall. Probably, investors remain optimistic in expectation of US labor data and the unemployment is expected to drop to 4.0%. We are waiting for the yen to grow to 108.00 and 108.50.* The presented market analysis is informative and does not constitute a guide to the transaction.
