Daily Market Analysis By FXOpen

Yen Under Pressure: Threat of New Tariffs from the US


The Japanese yen has come under pressure following reports of a potential reinstatement of trade tariffs by the United States. The USD/JPY and GBP/JPY currency pairs are exhibiting strong upward momentum as market participants assess the possible implications of Washington's escalating trade rhetoric for the Japanese currency.

According to reports on Truth Social, Donald Trump has sent official letters to the leaders of Japan, South Korea, Malaysia, and several other countries, signalling the possible introduction of new tariffs from 1 August. In a letter to Japanese Prime Minister Shigeru Ishiba, Trump stated: ?Please understand that these tariffs are necessary to correct the many years of Japan?s tariff, and non‑tariff, and trade barriers, causing unsustainable trade deficits against the United States.?

Such statements have heightened investor concerns over a renewed round of trade wars, which has negatively impacted demand for the yen.

Today, market participants remain focused on the release of the FOMC minutes and US consumer confidence data. These events may provide further impetus for the US dollar; however, geopolitical factors remain in focus.

USD/JPY

The USD/JPY pair has risen to 147.00, following the confirmation of a bullish harami pattern on the daily timeframe dated 2 July. If current conditions persist, the yen may continue to weaken, particularly if Tokyo does not adopt a firm retaliatory stance. Technical analysis of USD/JPY indicates the potential for a test of key resistance at 148.00?148.60. A downward correction may occur if the pair falls and consolidates below 146.00.

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Intel (INTC) Share Price Hits 3-Month High Without Clear Catalyst


Intel Corporation (INTC) stocks rose by over 7% yesterday, making them one of the top performers in the S&P 500 index (US SPX 500 mini on FXOpen). As a result, the stock price reached its highest level in three months.

What?s notable is the apparent lack of clear drivers behind the rally. According to Barron?s, the increase in INTC shares could have been triggered by a rating upgrade from Wall Street analysts or a corporate announcement ? yet no such developments have occurred. "Nothing new or fundamental," says Mizuho managing director and technology specialist Jordan Klein.

At the same time, from a technical analysis perspective, the INTC price chart is showing significant developments. Examining these price movements may provide clues as to what?s fuelling the recent rise.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.