USDJPY: The bear is controlled. The bull comes back the stage
Tomorrow, market pay all attention on US GDP data.
After FED Meeting, market continues to find more clues to consolidate hope for a rate hike this year.
Indeed, FED Statement was less hawkish as market expected but it was not bad, overall view is neutral-hawkish. FED said that they want to see more improvement in labor market : With 2 or 4 incoming payrolls data from now to September and December, I firmly believe that the ' lift-off" definitely occurs in this year.
Back to the US GDP data, after a severe winter , we want to see improvement of GDP.
The brightest spot of US economy is well-performance of labor market when payrolls always hold above 200k each month , and this will transfer to US GDP data tomorrow.
So if I believe the data is positive, which is the most affect ?. S&P500, Dow Jones will receive support from the data.
This also affect to USDJPY : The pair sticks to Equity market.
Hence, I think the bear is controlled, and give the stage to the bull.
- Technical Analysis
Support is at 123
Resistance at 123.40
I think this resistance cann't hold USDJPY: I think USDJPY will test 125 level.
After FED Meeting, market continues to find more clues to consolidate hope for a rate hike this year.
Indeed, FED Statement was less hawkish as market expected but it was not bad, overall view is neutral-hawkish. FED said that they want to see more improvement in labor market : With 2 or 4 incoming payrolls data from now to September and December, I firmly believe that the ' lift-off" definitely occurs in this year.
Back to the US GDP data, after a severe winter , we want to see improvement of GDP.
The brightest spot of US economy is well-performance of labor market when payrolls always hold above 200k each month , and this will transfer to US GDP data tomorrow.
So if I believe the data is positive, which is the most affect ?. S&P500, Dow Jones will receive support from the data.
This also affect to USDJPY : The pair sticks to Equity market.
Hence, I think the bear is controlled, and give the stage to the bull.
- Technical Analysis
Support is at 123
Resistance at 123.40
I think this resistance cann't hold USDJPY: I think USDJPY will test 125 level.
