✅ [June 4 FX Market Summary] Dollar Rebounds Temporarily but Tariff Risks Remain Heavy｜Sell USD/JPY on Rallies, Buy EUR/USD on Dips
📰 Fundamentals Summary
Temporary Dollar Rebound
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The dollar saw a brief recovery as U.S. equities paused and bond yields stabilized.
Tariff Tensions Resurface
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The U.S. raised tariffs on steel and aluminum to 50%. The EU hinted at retaliation, while China maintained a firm stance. Geopolitical and economic uncertainty remains high.
Focus on U.S. JOLTS Job Openings
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Previous: 7.195 million | Forecast: 7.10 million
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A downside surprise may trigger renewed dollar selling.
💹 Technical Strategy Highlights
💵 USD/JPY – Selling on Rallies Preferred
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Resistance seen in the low 144s; support exists in the 143 range but remains vulnerable.
Strategy: Sell near 144.00, stop above 144.60.
💶 EUR/USD – Uptrend Continues
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A break above 1.1370 may lead to a test of the 1.14 level. Dip buying remains the core approach.
Strategy: Buy between 1.1330–40, cut losses below 1.1290.
💷 GBP/JPY – Range-Bound
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Resistance remains in the high 194s; support around the 193 area. Lacks clear direction.
Strategy: Buy on breakout above 195.20 / Sell below 193.80.
📌 Key Data & Events
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U.S. JOLTS Job Openings (April)
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Speeches from multiple Fed officials, including Chair Powell
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Eurozone HICP and unemployment data also in focus
📢 Overall Outlook
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Even amid short-term corrections, the broader trend of dollar weakness remains intact. Watch for renewed risk-off sentiment and a return to dollar selling after position adjustments.
