![]() ![]() Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. Risk Disclaimers This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. The 14-day RSI at 60.54 supports a USD/JPY move to the 150.293 resistance level before reaching overbought territory. However, an unexpected slump in service sector activity will likely give the bears a run at the 148.405 support level. Speculation over Japanese government intervention in the FX markets may continue to cap the upside. Avoiding a drop below 149 would support a USD/JPY move to the 150.293 resistance level.īetter-than-forecasted ADP and ISM numbers would fuel buyer appetite for the US dollar. The USD/JPY remained above the 50-day and 200-day EMAs, affirming bullish price signals. However, a shift away from the higher-for-longer interest rate guidance will likely pressure the US dollar. Weaker US service sector activity and a slower pace in hiring may ease demand for the US dollar. Monetary policy divergence remains firmly tilted in favor of the US dollar. A more hawkish rate path would impact disposable income and curb consumer spending on non-essential goods.Įconomists forecast the ISM Non-Manufacturing PMI to fall from 54.5 to 53.6 in September. An upward trend in wage growth will likely fuel consumption and demand-driven inflation, forcing the Fed to take a more hawkish rate path. Positive momentum across the services sector would support a tighter labor market and wage growth. The US services sector contributes more than 75% to the US economy. An unexpected pickup in service sector activity would support a more hawkish Fed rate path. Later in the US session, ISM Non-Manufacturing PMI numbers will also influence the USD/JPY. Economists forecast the ADP to report a 160k increase in nonfarm employment vs. Later today, US ADP nonfarm employment change and ISM Non-Manufacturing PMI numbers will be pivotal for the USD/JPY.Īfter the unexpected rise in US job openings, higher-than-forecasted ADP numbers will likely drive buyer appetite for the US dollar. US ADP Employment Change and ISM Non-Manufacturing in the Spotlight Weaker service sector activity will likely leave the Yen on the defensive. The services sector accounts for 70% of GDP. Before the Friday numbers, an upward revision to service sector PMIs would offer Yen support.Īccording to prelim numbers, the au Jibun Bank Services PMI fell from 54.3 to 53.3. On Friday, household spending must reflect a change in momentum to ease pressure on the Yen. A pickup in wage growth and a bounce in consumption would raise the bets on a BoJ monetary policy shift away from ultra-loose. Bank of Japan Governor Ueda recently reiterated the parameters for a shift away from negative rates.
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