USDJPY Technical Analysis – All eyes on the ISM Manufacturing PMI ...Middle East

Fundamental OverviewThe USDJPY pair eventually erased the entire drop following the more dovish than expected Powell’s speech at the Jackson Hole Symposium. The focus is now on the key data this week with the ISM Manufacturing PMI and the NFP reports in the spotlight. The market is waiting for the key economic releases this week, and especially the NFP report, as that will likely decide whether the Fed is going to deliver a standard 25 bps cut or go for a more aggressive 50 bps cut in the upcoming meeting. Right now, it looks like the Fed is going to cut rates into a resilient economy, so one has to be mindful that we might eventually get an increase in economic activity that could lift long

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