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Today in the US Economic Calendar, all eyes are on FOMC members Christopher Waller and Raphael Bostic as they are set to speak. Their insights on the US labor market, economic outlook, and the Fed rate path have the potential to impact US dollar demand significantly. At Extreme Investor Network, we understand the importance of staying informed and ahead of market movements.
While Fed Chair Powell has hinted at a possible policy adjustment, uncertainty still surrounds the size of a potential September rate cut. Recent US economic indicators have tempered expectations for a 50-basis point rate cut, but any support for such a move could propel the USD/JPY pair towards 142. At Extreme Investor Network, we dig deep into market analysis to provide you with a comprehensive understanding of these critical developments.
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Our network includes global industry experts like Arch Capital Global Chief Economist Parker Ross, who recently shared his views on current unemployment levels and the risk of a US recession. Ross highlights the historical relationship between unemployment rates and recessions, dispelling common misconceptions. By subscribing to Extreme Investor Network, you gain access to exclusive expert commentary that can help guide your investment decisions.
Stay Ahead with Our Short-term Forecast
Looking ahead, the USD/JPY pair’s trajectory will be influenced by upcoming inflation and labor market data from Japan and the US. Higher inflation in Japan could pave the way for a BoJ rate hike, potentially pushing the USD/JPY towards 142. Conversely, any negative surprises in US jobless claims or personal spending data could fuel speculation about a larger Fed rate cut in September, impacting the USD/JPY pair further.
As an investor, it is crucial to remain vigilant and adapt your trading strategies based on real-time data and expert insights. At Extreme Investor Network, we provide you with the latest news, analysis, and market commentary to help you navigate the volatile USD/JPY landscape effectively.
Explore USD/JPY Price Action with Extreme Investor Network
Our daily chart analysis reveals that the USD/JPY is currently trading below the 50-day and 200-day EMAs, indicating a bearish trend. A potential move towards 145 could see bulls challenging the 145.891 resistance level, with further upside towards 147.500 possible upon a breakout. However, downside risks remain significant, with a break below the 143.495 support level potentially leading to a decline towards lower levels.
With the 14-day RSI hovering at 31.70, there is a possibility of further downside pressure on the USD/JPY before entering oversold territory. Extreme Investor Network equips you with the tools and insights needed to navigate these price actions effectively.
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