Dollar A.S. / Yen JepangPembelian
Will the revealed labor data continue to support USDJPY?
Macro theme:
- The latest Sep NFP, Unemployment Rate, and Average Hourly Earnings have all surpassed market expectations. As a result, the CME FedWatch Tool shows that the 32% probability of a 0.50% rate cut in November has been eliminated, shifting the odds toward a likely rate freeze instead.
- Japan's newly appointed economic minister expressed support for further interest rate hikes as long as they do not destabilize the economy or markets, signalling confidence in the BoJ's approach.
- The yen's outlook remains uncertain, influenced by the robust US labor market and ambiguity surrounding the BoJ's potential rate hikes.
Technical theme:
- USDJPY quickly recovered from the previous downtrend and closed above both EMAs, indicating a solid upward momentum.
- If USDJPY extends its gain to close above 149.25, USDJPY may retest the resistance around 152.00.
- On the contrary, a failure to close above 149.25 may prompt a temporary correction within 147.30-149.25 until an apparent breakout occurs.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
- The latest Sep NFP, Unemployment Rate, and Average Hourly Earnings have all surpassed market expectations. As a result, the CME FedWatch Tool shows that the 32% probability of a 0.50% rate cut in November has been eliminated, shifting the odds toward a likely rate freeze instead.
- Japan's newly appointed economic minister expressed support for further interest rate hikes as long as they do not destabilize the economy or markets, signalling confidence in the BoJ's approach.
- The yen's outlook remains uncertain, influenced by the robust US labor market and ambiguity surrounding the BoJ's potential rate hikes.
Technical theme:
- USDJPY quickly recovered from the previous downtrend and closed above both EMAs, indicating a solid upward momentum.
- If USDJPY extends its gain to close above 149.25, USDJPY may retest the resistance around 152.00.
- On the contrary, a failure to close above 149.25 may prompt a temporary correction within 147.30-149.25 until an apparent breakout occurs.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
I’ve taken a break from my public community engagements to focus on raising my three kids, but I'm rediscovering my passion for working again. Stay connected, as I plan to return and rejoin my old communities with a lot of new skills one day soon.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.