USD/JPY faces double whammy as selling intensifies, falling to near seven-month low near 142.00
Safe-haven flows remain strong, and China's latest countermeasures have exacerbated this trend. China announced on Friday that it would increase tariffs on US goods from 84% to 125% in response to President Trump's move to increase tariffs on Chinese goods to 145%. The escalating Sino-US trade friction has once again made the market uneasy, prompting safe-haven funds to flow into the yen. In addition, the differences between the Federal Reserve and the Bank of Japan in monetary policy expectations continue to have an adverse impact on the currency pair. Japanese Economic Minister Ryosuke Akazawa pointed out that they will hold tariff negotiations with the United States on April 17.
Technical Analysis
On the 4-hour chart, USD/JPY continued to decline, and started a correction from the high of 158.871. As of now, the lowest has dropped to 142.057, and the overall structure shows a clear bearish trend. The current price is running below the 76.4% Fibonacci retracement level, indicating that the short-term rebound has not yet broken through the key pressure band, and the overall structure is still in a weak structure. If there is a subsequent rebound, we need to focus on the 145.15~146.08 area. This range is the core intensive trading zone of the previous shock platform, and it also intersects with multiple moving averages, which significantly suppresses the price. On the other hand, if the price continues to fall, the Fibonacci extension level will become the key to the potential support below. The current price is approaching the 123.6% extension level. If it falls below this level, the 141.33 and 139.70 below will constitute the technical support targets for the next stage.
USDJPY USDJPY
Safe-haven flows remain strong, and China's latest countermeasures have exacerbated this trend. China announced on Friday that it would increase tariffs on US goods from 84% to 125% in response to President Trump's move to increase tariffs on Chinese goods to 145%. The escalating Sino-US trade friction has once again made the market uneasy, prompting safe-haven funds to flow into the yen. In addition, the differences between the Federal Reserve and the Bank of Japan in monetary policy expectations continue to have an adverse impact on the currency pair. Japanese Economic Minister Ryosuke Akazawa pointed out that they will hold tariff negotiations with the United States on April 17.
Technical Analysis
On the 4-hour chart, USD/JPY continued to decline, and started a correction from the high of 158.871. As of now, the lowest has dropped to 142.057, and the overall structure shows a clear bearish trend. The current price is running below the 76.4% Fibonacci retracement level, indicating that the short-term rebound has not yet broken through the key pressure band, and the overall structure is still in a weak structure. If there is a subsequent rebound, we need to focus on the 145.15~146.08 area. This range is the core intensive trading zone of the previous shock platform, and it also intersects with multiple moving averages, which significantly suppresses the price. On the other hand, if the price continues to fall, the Fibonacci extension level will become the key to the potential support below. The current price is approaching the 123.6% extension level. If it falls below this level, the 141.33 and 139.70 below will constitute the technical support targets for the next stage.
USDJPY USDJPY 
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Signal entry: t.me/FcCygjylf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🎁Stable weekly profit exceeds 259.7%🎁Win rate is as high as 98.83%,✔Copy accurate trading signals✔Account management. Real-time communication: t.me/cryptoanalyst_baker
Signal entry: t.me/FcCygjylf
Signal entry: t.me/FcCygjylf
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.