2025.05.29
[May 29] Dollar strengthens on U.S. trade court ruling reports, potential sign of trade war resolution
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Recap of previous trading day (May 28)
Yesterday the USDJPY tested the upper 144-yen range three times during Tokyo trading hours, reaching a high of 145.08 shortly after GMT 15:30. The price rise then stalled, with trading for the day closing at 144.81.
Recap of the Tokyo market and outlook going forward
Today the USDJPY saw concentrated dollar buying after reports emerged that the U.S. trade court ruled President Trump's tariffs invalid. The price surged from the upper 144-yen range to 146.28 around GMT 01:00, and as of GMT 05:00 is trading in the upper 145-yen range.
Looking at the 1-hour chart of the USDJPY (as of GMT 05:00 on May 29), the upward movement from consolidation continues. If the price breaks above the immediate high of 146.28 again, the next target appears to be 147.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
The main economic indicators for today are as follows:
- GMT 12:30 U.S. Real gross domestic product (GDP, revised), Q1
- GMT 12:30 U.S. PCE Price Index, Q1
- GMT 12:30 U.S. Core PCE Price Index, Q1
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