USDJPY Technical Analysis – Eyes on the US data this week ...Middle East

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USDJPY Technical Analysis – Eyes on the US data this week
source : forex live ( Middle East ) () 38
Fundamental OverviewThe US Dollar got a bit of a boost yesterday as Fed Chair Powell reiterated that 50 bps of easing by year end remains the base case. The market’s probability for the Fed to cut by 50 bps in November fell from 51% to 40%.Moreover, overnight the BoJ Summary of Opinions showed that the proponents for rate hikes were more inclined to wait and monitor the developments in the overseas economies and markets. This week is a big one as we get the US ISM Manufacturing PMI today and the US NFP report on Friday. Positive data will likely see the pair drifting higher on rising Treasury yields, while weak figures should keep the bearish momentum going. USDJPY Technical Analysis – Daily

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