The USD/JPY currency pair might fall in the medium term, according to our technical and fundamental analysis. The target for the next weeks is Fibo 0.23 (106.95). Also on the weekly chart, the USD/JPY pair shows a downtrend continuation. The RSI oscillator is still below 50, and the price is below EMA 20, EMA 50, and EMA 100. The US dollar continues to fall as rising trade tensions between Washington and Beijing and growing bets on a US interest rate cut.
The most important data from this week:
FOMC rate decision (2.5% expectation); ( 2.5% previous)
BOJ rate decision (-0.1% expectation); ( -0.1% previous)
Japan National CPI YoY (-0.7% expectation); ( -0.9% previous)