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14 February 2025,02:11
Trade Of The Day
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14 February 2025, 02:11
* Dollar Under Pressure: The U.S. dollar retreats sharply, weighed down by concerns over U.S. economic stability and escalating trade tensions.
* De-Dollarization Fears: Trump’s warning to BRICS nations about potential 100% tariffs if they attempt to establish their own currency has fueled concerns over de-dollarization, further weakening the greenback.
* Yen Strength: The Japanese yen gains support as Japan’s inflation remains stable and the Bank of Japan maintains a hawkish stance on monetary policy.
* Technical Breakout: USD/JPY is trading lower after breaking below a key support level, with MACD signaling increasing bearish momentum and RSI at 42 suggesting further downside potential.
* Resistance and Support: If the bearish momentum persists, there’s a strong likelihood that the price will potentially head towards 151.30. Conversely, a potential reversal is also to be expected, and the price could head back towards 152.80.
New U.S. tariff announcements or shifts in trade policy could increase market volatility and impact USD/JPY’s trajectory.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on potential US tariffs implementation, ceasefire negotiations between Russia-Ukraine and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
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