USDJPY → Trump crashes the market, dollar rallies

USDJPY breaks downtrend structure. Monday started unexpectedly for traders with Trump's actions, which gutted localized situations not only in the forex...



The imposition of tariffs, another batch of statements about the Eurozone, BRICS, and also this: “Trump said that the Fed made the right decision last week to suspend rate cuts” produced a corresponding reaction in the market. On the back of inflation expectations, the dollar is accelerating its growth, thus provoking a rally in USDJPY.
Technically, the focus is on the resistance at 155.95 and the support of the previously broken channel, which can be tested before further growth.

Resistance levels: 155.95, 156.6
Support levels: 155.0, 153.6

The price is trying to consolidate in the buying zone, but the resistance at 155.95 is holding the price back from active strengthening. Breakdown and consolidation of the price above this area may provoke growth to the trend resistance.

Regards R. Linda!