USD/JPY holds gains as Trump escalates Iran war, Hormuz headlines cap upside
The American currency gained ground as President Trump indicated that U.S. will continue the operation against Iran.
USD/JPY rose to 159.39 on Thursday, as the yen weakened amid conflicting signals from Donald Trump on a possible de-escalation of the Middle East conflict. The situation continues to support the US dollar while weighing on the yen.
The pair hit a correction towards the target and support of 157.25-65 and managed to rebound again. The market is still holding a trading zone with resistances around 160.20 and 161.95 where each resistance could push for drop a toward the 157.25-65 zone.
USD/JPY Price Forecast: Recovers from 20-day EMA as US Dollar's safe-haven demand revives
USD/JPY is one of the most reactive pairs to broader geopolitical movements and technical patterns, remaining one of the most favored major currency pairs in FX trading.
USD/JPY drifts near 159.00 as ceasefire hopes and Tokyo warnings collide
USD/JPY Technical Analysis: USD/JPY edges lower from weekly highs as the Petrodollar demand fades and President Trump signals a wind-down of hostilities. With Japan's energy dependency driving recent Yen weakness, all eyes turn to the Bank of Japan's April 28th meeting, where a rate hike to 1% remains heavily priced.
USD/JPY Price Forecast: Momentum cools as price slips below short-term average
U.S. and Iran have traded demands to end the war in the Middle East.
USD/JPY is turning lower after failing to sustain gains near a major resistance zone into the close of March, with the pair now marking a third consecutive daily decline. The pullback follows a strong advance off mid-month lows but comes amid growing signs of momentum divergence at recent highs.
USD/JPY softens as Middle East de-escalation hopes weigh on USD ahead of key US data