USDJPY is currently residing at the edge of 107.50 area despite having worse economic report on the USD side recently. As of the recent high impact economic reports published on Friday, Non-Farm Employment Change report was published with a decrease to 103k from the previous figure of 326k which was a drastic fall from a significant figure and Unemployment Rate was unchanged at 4.1% which was expected to decrease to 4.0%. Despite having such worse economic reports, USD sustained the momentum over JPY and maintained the bullish pressure in the market. Today JPY Current Account report was published with decrease to 1.02T from the previous figure of 2.02T which was expected to be at 1.39T, Consumer Confidence report was published unchanged at 44.3 which was expected to increase to 44.6 and Economy Watchers Sentiment report was published with an increase to 48.9 from the previous figure of 48.6 which was expected to decrease to 48.1. On the other hand, today there is no USD economic report or event to be held but ahead of the CPI report this week, USD is expected to maintain the momentum which is expected to decrease to 0.0% from the previous value of 0.2%, today there is no economic report to be published for which today USD is expected to be quite weak in nature. Tomorrow USD PPI report is going to be published which is expected to decrease to 0.1% from the previous value of 0.2%, Core PPI is expected to be unchanged at 0.2% and Final Wholesale Inventories report is expected to show decrease to 0.8% from the previous value of 1.1%. As of the current scenario, the pair is expected to be quite volatile this week, having USD having dovish expectation for the upcoming economic reports whereas JPY is already struggling with the weak economic results. To sum up, USD is expected to have an upper hand over JPY if the economic reports results better than the expectations in the coming days.
Now let us look at the technical view. The price is currently quite indecisive and volatile below 107.30-50 area from where it is expected to push lower towards 105.50-106.00 support area in order to push higher in the coming days. The dynamic level of 20 EMA has been breached recently with a daily close for which the market sentiment is currently being observed on the way of shifting itself. A daily close above 107.50 will lead to further impulsive pressure in the coming days. As the price remains above 105.50, the bullish bias is expected to continue further.
The material has been provided by InstaForex Company – www.instaforex.com
USDJPY is currently residing at the edge of 107.50 area despite having worse economic report on the USD side recently. As of the recent high impact economic reports published on Friday, Non-Farm Employment Change report was published with a decrease to 103k from the previous figure of 326k which was a drastic fall from a significant figure and Unemployment Rate was unchanged at 4.1% which was expected to decrease to 4.0%. Despite having such worse economic reports, USD sustained the momentum over JPY and maintained the bullish pressure in the market. Today JPY Current Account report was published with decrease to 1.02T from the previous figure of 2.02T which was expected to be at 1.39T, Consumer Confidence report was published unchanged at 44.3 which was expected to increase to 44.6 and Economy Watchers Sentiment report was published with an increase to 48.9 from the previous figure of 48.6 which was expected to decrease to 48.1. On the other hand, today there is no USD economic report or event to be held but ahead of the CPI report this week, USD is expected to maintain the momentum which is expected to decrease to 0.0% from the previous value of 0.2%, today there is no economic report to be published for which today USD is expected to be quite weak in nature. Tomorrow USD PPI report is going to be published which is expected to decrease to 0.1% from the previous value of 0.2%, Core PPI is expected to be unchanged at 0.2% and Final Wholesale Inventories report is expected to show decrease to 0.8% from the previous value of 1.1%. As of the current scenario, the pair is expected to be quite volatile this week, having USD having dovish expectation for the upcoming economic reports whereas JPY is already struggling with the weak economic results. To sum up, USD is expected to have an upper hand over JPY if the economic reports results better than the expectations in the coming days.
Now let us look at the technical view. The price is currently quite indecisive and volatile below 107.30-50 area from where it is expected to push lower towards 105.50-106.00 support area in order to push higher in the coming days. The dynamic level of 20 EMA has been breached recently with a daily close for which the market sentiment is currently being observed on the way of shifting itself. A daily close above 107.50 will lead to further impulsive pressure in the coming days. As the price remains above 105.50, the bullish bias is expected to continue further.
The material has been provided by InstaForex Company – www.instaforex.com
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