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FX.co ★ The yen fell first in the trade war between the US and China

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Forex Analysis:::2018-06-19T06:11:51

The yen fell first in the trade war between the US and China

USD / JPY

Yesterday, the Japanese data on the trade balance came out mixed. Exports increased from 7.8% YoY to 8.1% YoY against expectations of a decline to 7.5% YoY according to estimates in May. But imports increased from 5.9% YoY to 14.0% YoY, which eventually amounted to a negative balance. The seasonally adjusted balance was -0.30 trillion yen against the forecast of 0.14 trillion yen and 0.45 trillion yen a month earlier. Excluding seasonal fluctuations, the trade balance was -578 billion yen against 625 billion yen in April. The yen was currently down by 40 points, but the day was closed by a decrease of 11 points thanks to external support.

Today, the Asian markets played well with the statement of Donald Trump to impose a 10% tariffs on Chinese goods for another $ 200 billion. China announced the preparation for a reciprocal measures. The Chinese stock index, China A50 is losing 2.12%, and the Japanese Nikkei 225 by -1.03%. The yen declined by 75 points.

The yen fell first in the trade war between the US and China

The first support price can serve as the line at the intersection with the minimum level on May 4 in the area of 108.77. The signal line of the Marlin oscillator bounced back to the negative territory.

The 4-hour chart does not show any signs of reversal:

The yen fell first in the trade war between the US and China

* The presented market analysis is informative and does not constitute a guide to the transaction.

Analyst InstaForex
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