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.
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