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USDJPY fundamental drivers

OctaFX | Oct. 2, 2017
USDJPY fundamental drivers

Monday will be filled with numerous fundamental impactful events. How will these affect USDJPY movements? Let's find out with this 2 October USDJPY fundamental drivers analysis from OctaFX.

2 October, OctaFX - In North America, the Institute for Supply Management (ISM) will release US manufacturing PMI at 14:00 GMT. The closely watched report is expected to show a slight cooldown in factory activity at the end of the fourth quarter.

In terms of monetary policy, Federal Open Market Committee (FOMC) member Robert Kaplan will deliver a speech at 18:00 GMT.

USDJPY fundamental drivers

The USD/JPY advanced to two-and-a-half month highs on Monday, as risk appetite continued to weigh on the Japanese yen. The pair reached a session high of 112.91 in Asian trading before consolidating near 112.81.

That represents a gain of 0.3%. Technical indicators have eased off oversold levels, a sign that the bulls continued to lead the market. Upside should remain intact insofar as price action remains above the 100-day simple moving average, which is currently situated at 111.10.

 USDJPY fundamental drivers

Disclaimer

This article about 2 October USDJPY fundamental drivers should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

Tags USDJPY OctaFX
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