USDJPY Chart Technical Outlook upside attempts to remain limited ahead of US employment and Powell’s speech.
The US Dollar is on a choppy correction after July’s sell-off. The pair has found support at 145.00 and might see some pickup. Not a significant one. US employment is expected to be revised down today, which might revive fears of a recession and speculation about aggressive Fed cuts in September.
This would push US Yields lower and increase pressure on the US Dollar ahead of a key Speech by Jerome Powell at Jackosn Hole, due on Friday.
Also on Friday, BoJ Governor Ueda will be addressing the Parliament, where he might reiterate the commitment to normalize monetary policy shown after the last meeting. This would be positive for the Yen.
