Price Update: USDJPY (H4)

Can we pay attention to the bigger picture?

USDJPY has dropped over 700 pips since the 15th of November which accounts for about 38.2% of the total upsides from the month of September - Move is particularly supported by growing expectations of a BOJ rate hike.

Looking at the week ahead, starting from today we have ISM Manufacturing PMI and other key data lined up for the week including the Services PMI, ADP and NFP which could make for some big moves on the USDJPY this week.

From the technical side, price is running into support around 150.300 (38.2% fib level) which is stalling further decline for now.

In the line up ahead of NFP, if this level is not broken today then we might see further retracement back towards 152.000.

If sellers solidify a break below 150.300 then we might be looking at a week of further selling for the US Dollar at least towards 147.250 all things been equal.#trading #crypto #gold $BTC $SOL $BNB