Tomorrow, market pay all attention on US GDP data.
After FED Meeting, market continues to find more clues to consolidate hope for a rate hike this year.
Indeed, FED Statement was less hawkish as market expected but it was not bad, overall view is neutral-hawkish. FED said that they want to see more improvement in labor market : With 2 or 4 incoming payrolls data from now to September and December, I firmly believe that the ' lift-off" definitely occurs in this year.
Back to the US GDP data, after a severe winter , we want to see improvement of GDP.
The brightest spot of US economy is well-performance of labor market when payrolls always hold above 200k each month , and this will transfer to US GDP data tomorrow.
So if I believe the data is positive, which is the most affect ?. S&P500, Dow Jones will receive support from the data.
This also affect to USDJPY : The pair sticks to Equity market.
Hence, I think the bear is controlled, and give the stage to the bull.
- Technical Analysis
Support is at 123
Resistance at 123.40
I think this resistance cann't hold USDJPY: I think USDJPY will test 125 level.
After FED Meeting, market continues to find more clues to consolidate hope for a rate hike this year.
Indeed, FED Statement was less hawkish as market expected but it was not bad, overall view is neutral-hawkish. FED said that they want to see more improvement in labor market : With 2 or 4 incoming payrolls data from now to September and December, I firmly believe that the ' lift-off" definitely occurs in this year.
Back to the US GDP data, after a severe winter , we want to see improvement of GDP.
The brightest spot of US economy is well-performance of labor market when payrolls always hold above 200k each month , and this will transfer to US GDP data tomorrow.
So if I believe the data is positive, which is the most affect ?. S&P500, Dow Jones will receive support from the data.
This also affect to USDJPY : The pair sticks to Equity market.
Hence, I think the bear is controlled, and give the stage to the bull.
- Technical Analysis
Support is at 123
Resistance at 123.40
I think this resistance cann't hold USDJPY: I think USDJPY will test 125 level.
