The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The nationwide Consumer Price Index published last week showed accelerated core inflation in March—from 2.6% to 2.9%. Inflationary pressure is increasing, supporting the case for further interest rate hikes by the Bank of Japan.
The goods sector largely drives the rise in inflation, and according to Mizuho analysts, it is unlikely to slow down in the near term. The growth in the services sector is more modest, but this is precisely where price acceleration is expected. The Consumer Price Index (CPI) for April in the Tokyo area will be released late Thursday evening. It will reflect the development of the current trend and could trigger increased demand for the yen if it also shows growth.
At the moment, the BOJ sees no particular need to change its gradual rate-hike strategy, given the high uncertainty surrounding new U.S. tariffs. There is a risk of a downward revision of GDP forecasts, which would support a slower pace of rate increases. Therefore, clarity on the tariff situation and its economic impact is needed before further rate hikes can be considered.
Markets, however, anticipate a continued strengthening of the yen, as it is once again becoming the main safe-haven asset amid evident weakness in the U.S. dollar. With gold reaching 3,500 per ounce—signaling a decline in confidence toward the dollar—the yen maintains solid upside potential, even against the BOJ's extremely cautious stance.
The yen has once again emerged as a leader among major currencies. The net long position against the U.S. dollar rose by 2.43 billion to 15.00 billion over the past week—a significant advantage and the trend remains strong. After a brief uptick, mainly due to the lack of new rate signals from the BOJ, the estimated fair value is again turning south.
The yen reached a new high on Tuesday, climbing to 139.90—shy of the 139.59 target we've considered key in recent weeks. The upward rebound is purely corrective and not a sign of a reversal. On the contrary, signs are emerging that a move below 140 in USD/JPY is far from the limit, and the pair could continue downward toward the support zone of 127–129.
The yen's rapid strengthening increases the likelihood of a short-term correction. The nearest resistance lies at 144.20/40, and if the yen pulls back to this level, another downward impulse may follow after a period of consolidation. A deeper correction to the 146.50/147.10 zone is possible, but under current conditions, it appears unlikely.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
