Market Strategy for the Week - June 3, 2025 (Tue)
USD/JPY fell to the 142 yen level amid pushback from the Chinese side in US-China trade negotiations and weak US ISM data.
We should continue to pay attention to unexpected statements from President Trump.
USD/JPY rose from the morning low of 142.38 yen after Bank of Japan Governor Ueda's response at the House of Councillors Financial and Banking Committee, stating that a rate hike is not a foregone conclusion, which triggered yen selling sentiment.
The notable US economic indicator today is the April US Job Openings and Labor Turnover (JOLTS) survey, with expectations of 7.1 million openings.
Technically, the downside target for USD/JPY is set at today's low of 142.38 yen, while the upside target is set at today's high of 143.38 yen, and we will continue to monitor the movements of stocks and long-term interest rates.
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