The UsdJpy 146.25 magnet I’ve been mentioning the last two days is quite active with some expected over/under. Last hurrah is just above for a bit of time. Current problems with it:
1. Major bank executives have voiced no confidence in US government data from this administration in light of the hidden in plain sight BLS fraud.
2. Stocks are likely to remain in trouble overall regardless of the FED being forced to lower rates coming up in part to the fraudulent data and the fact that almost 1 million job losses went unreported with more to come showing an unstable economy.
3. The short side of UsdJpy is dicey with the evaporation of confidence due to the uncertainty and stronger in stocks now than before.
Rates will be reduced but now the impact is likely reduced. So USD is a matter of the extent pricing in has been achieved.
