<\/p>\n
\n Share:<\/span><\/p>\n Ahead of the weekend, the USD\/JPY pair<\/a> resumes\u00a0its upward path, rising to 147.85 and on the point of\u00a0recording a second consecutive week of\u00a0gains. On the USD side, the Greenback trades\u00a0soft and faces\u00a0selling pressure after soft consumer sentiment figures from the US in September. However, the DXY index will close its eight-consecutive winning week, gaining more than 5% since\u00a0July. On the other hand, the JPY has given up all gains seen by Ueda\u2019s comments earlier this week, and the Bank of Japan’s (BoJ) dovish stance, leaves the Yen vulnerable.<\/p>\n During the past week, key inflation data from the US from August measured by the Consumer Price Index (CPI) came in higher than expected. In addition, economic activity figures, including Retail Sales from the same month and Jobless Claims for the second week of September, also showed good news<\/a> for the US economy.<\/p>\n Regarding expectations on the Federal Reserve (Fed), according to the CME FedWatch tool, the odds of one last hike slightly have declined but remain relatively high, at around 35%. That decline may be explained by the European Central Bank’s (ECB) dovish tone on Thursday after it decided to hike by 25 bps but\u00a0Christine Lagarde\u00a0refrained from committing to another hike. Nevertheless, the US economy looks like it is not cooling down, and Fed officials have all the reasons to hike one last time.<\/p>\n On the JPY front, as highlighted by the BoJ, local wage and inflation trends are key drivers in the decision-making process around monetary policy<\/a> shifts. On Monday, Governor Ueda commented that the bank may gather enough data by years-end to consider a pivot, which lifted the Yen.\u00a0That momentum slowly fade, however. For next week\u2019s BoJ<\/a> meeting, no changes in the ultra-loose policy are expected, but markets will monitor any changes in the economic forecast.<\/p>\n As per the daily chart analysis, the USD\/JPY has a bullish technical bias for the short term.<\/p>\n The Relative Strength Index (RSI) also exhibits a northward slope above its midline, emphasising the presence of strong buying pressure, while the MACD, with its green bars, highlights the strengthening bullish momentum of the USD\/JPY.<\/p>\n On the other hand, the pair is above the 20,100,200-day Simple Moving Average (SMA), indicating that the buyers are commanding the broader perspective.<\/p>\n \u00a0Support levels: 147.00, 146.60 (20-day SMA), 146.00.<\/p>\n \u00a0Resistance levels: 148.00, 149.00, 150.00.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Share: USD\/JPY advances\u00a0to fresh multi-month highs near 147.85 US Michigan\u2019s Consumer Sentiment came in lower than expected. The US DXY index reached its highest point since March 9 at 105.43 and then settled at 105.23. All eyes are now on the Fed\u2019s decision next week. Ahead of the weekend, the USD\/JPY pair resumes\u00a0its upward path, […]<\/p>\n","protected":false},"author":2,"featured_media":31883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,277,252,247,253,249,275,256,254],"class_list":["post-156774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdjpy","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=156774"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156774\/revisions"}],"predecessor-version":[{"id":156775,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156774\/revisions\/156775"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/31883"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=156774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=156774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=156774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Investors gear up for next week\u2019s Fed decision<\/h2>\n
USD\/JPY Levels to watch\u00a0<\/h2>\n
USD\/JPY Daily Chart<\/h2>\n<\/p>\n