Created on April 24, 2025

• For two consecutive trading sessions, the USD/JPY currency pair has rebounded from its recent strong losses, which reached the support level of 139.88, the pair’s lowest in seven months.
• However, the upward rebound gains did not exceed the resistance level of 143.57 before the USD/JPY price stabilized around the 143.10 level at the beginning of today’s Thursday trading session.
• Currently, the upward rebound gains for the currency pair increased amid improved investor sentiment due to Trump abandoning the idea of dismissing US Federal Reserve Governor Jerome Powell and the easing of trade tensions between the United States and China.

US Dollar Performance Witnesses Positive Development

According to forex market trading, the US dollar has rebounded from its lowest levels in three years amid easing concerns about the independence of the Federal Reserve and growing hopes for a de-escalation of the trade war. Recently, Trump stated that he has no intention of dismissing Federal Reserve Chairman Jerome Powell, allaying concerns about political interference in US monetary policy. Also, he indicated a softer stance toward China, saying he plans to be “very gentle” in any trade negotiations.

Meanwhile, US Treasury Secretary Scott Bessent acknowledged that the tariff standoff with China is unsustainable and stressed the need for both sides to de-escalate soon.

Despite the recent recovery, the US dollar remains down about 9% since the beginning of 2025 and has lost much of its safe-haven appeal in recent weeks amid ongoing trade tensions, recession risks, and political pressure on the US Federal Reserve, which has prompted many investors to move away from US assets.

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Trading Tips:

The USD/JPY trend remains bearish, and market tensions will ultimately support the Japanese yen.

US Stock Prices Rise Amid Easing Concerns:

During yesterday’s trading and across stock trading platforms, US stock market indices closed higher, with the S&P 500 index rising by 1.7%, the Nasdaq index by 2.5%, and the Dow Jones Industrial Average by 419 points, as the easing of trade tensions between the United States and China, and Trump’s confirmation that he would not dismiss Federal Reserve Chairman Jerome Powell, boosted sentiment.

However, the three US stock indices retreated from their highs, as investors questioned whether a trade resolution was imminent. US Treasury Secretary Bessent indicated that Trump had not proposed a unilateral reduction in tariffs and that talks with China had not yet begun, dampening early optimism. Clearly, this statement followed the President’s remarks suggesting that tariffs might not remain at the current 145% level.

Meanwhile, Trump’s change of tone toward Powell helped ease concerns about the US central bank’s independence. Tesla shares rose 5.4% after CEO Elon Musk announced he would significantly reduce his involvement with the government to focus on leading his companies. Boeing shares also rose 6.1%, supported by improved aircraft deliveries.

USD/JPY Technical analysis and Expectations Today:

According to the performance on the daily chart, the overall trend for the USD/JPY currency pair remains bearish despite its recent gains. A break of the overall bearish trend on this timeframe will not occur without the bulls successfully pushing towards the resistance levels of 145.00 and 147.80, respectively. Conversely, on the same timeframe, the support levels of 141.70 and 140.00 will remain a real threat to the upward movement and important areas for strong bear control. After its recent gains, the 14-day RSI indicator is moving away from the oversold barrier, while the MACD indicator remains stable near the oversold peak so far.

The USD/JPY pair will be affected by the extent of investors’ risk appetite, as well as the release of the US weekly jobless claims and durable goods orders figures.

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Created on April 24, 2025

• The Euro has been extraordinarily noisy during the trading session on Wednesday, as there is lot of questioning out there as to whether or not the US dollar is going to lose its status as the world’s reserve currency.
• I don’t believe this, and the only reason I bring this up is that about the time you hear these types of statements, you know that you’re close to the end of selling in the greenback.
• Now that doesn’t necessarily mean that we are going to see the euro crumble, but what I think it does suggest is that we have been overbought, and we have seen a pretty significant pullback over the last 48 hours.

The 1.12 level underneath is a significant amount of support just waiting to happen as it had been major resistance, all things being equal. That’s an area where we will have to make a major inflection point. We will have to make a lot of decisions in that area.

A Range Forming?

Ultimately, I think we’ve got a situation where we are in the middle of a potential range between the 1.12 and 1.15 level. And therefore, it wouldn’t surprise me to see the market just level out here. After all, the market was parabolic for quite some time, and now it has to have a little bit of digestion. Markets cannot go in one direction forever, no matter how hyped people get.

Furthermore, the interest rate differential is actually starting to spread out quite far, and sooner or later, people are going to want to collect that interest, especially in an environment where the economic and market situation around the world is so jittery. Why risk or test your luck in a market that is all over the place when you can get a whopping return on just parking cash into treasuries.

We are starting to see US treasuries catch a bid and that helps the US dollar as there had been so many pulled out of the country, dollars are starting, I suspect, to flow back into America. Does that mean the trend changes here? No, not necessarily, but it does mean that we got way ahead of ourselves.

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Platinum price continued forming weak sideways trading by its repeated stability near the resistance at $975.00, confirming its affection for the continuation of the main indicators until this moment, therefore, we will keep waiting for achieving the required breach to increase the chances of forming new bullish waves, to begin recording gains by its rally to $994.00 and $1005.00.

While the breach failure might assist to activate the bearish correctional track in the current trading, which forces the price to renew the pressure on the moving average 55 at $960.00, to attempt to target extra support near $950.00.

The expected trading range for today is between $962.00 and $974.00

Trend forecast: Bullish

The EURJPY pair provided several slow sideways range trading, due to its neediness to the negative momentum, but its main stability below the bearish channel’s resistance at 163.00 makes us keep the negative suggestion in the near and medium period trading.

Stochastic exit from the overbought level will increase the chances for gaining negative momentum, to reinforce the chances of targeting negative stations, which might begin at 161.30 and 160.30, while moving to the bullish track requires forming a strong bullish attack, to provide several positive closes above 163.25 level, then begin recording several gains by its rally to 164.20.

The expected trading range for today is between 160.35 and 162.65

Trend forecast: Bearish