Dollar trends higher as weekend President Trump and PM Abe meeting soothes trade concerns

Japanese Prime Minister Shinzo Abe’s meeting with President Donald Trump was said to have gone well as there were no mention of currency manipulation or predatory trade practices. 

Investors continue to bet on a stronger dollar finding support for reassuring trade relations with the Asian countries. This is especially critical to Japan as its moderate GDP growth comprises of exports representing close to 50%. The heavy dependence on exports may cause backlash with the Trump’s presidency through repeated citation of imposing trade protectionist policies.

Looking over at the shorter term time frames, the U.S. Dollar gains against the Yen appear to be short lived at the moment as it meets with resistance at our supply zone retest.

screenshot-at-feb-13-01-31-21
USDJPY 1-Hour

As of the moment, this is the only pair I am watching. This simply marks a retracement in a 4-hour down trend.

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