This Week's Market Strategy - April 8, 2025 (Tue)
Looking at yesterday's price movement, the chart appears to have formed a bottom.
This week, the EU will vote on reciprocal tariffs on Wednesday, so we should pay attention to the movements of euro-related currency pairs.
Regarding dollar-related movements, we should focus on Thursday's 21:30 Consumer Price Index (CPI) announcement and Friday's 23:00 University of Michigan preliminary figures.
For USD/JPY, we should note the 146.50 support line going forward. Currently trading in the 147.45-148.15 range.
If this range breaks above during London time, the next target is 149.
If it breaks below, 146.55 is the support level, but this week I think it's better to aim for long positions from supported levels rather than targeting short directions.
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