USD/JPY Forecast: Machinery Orders Slide as Economic Uncertainty Lingers
==========
On Monday (June 17), machinery orders from Japan slid by 2.9% in April after rising by 2.9% in March, signaling a waning demand outlook. The Bank of Japan remains focused on wage growth, services, and household spending to drive an economic recovery and demand-driven inflation. US manufacturing sector data and FOMC Member commentary will also be in focus. The USD/JPY is comfortably above the 50-day and 200-day moving averages, with a breakout above 158 potentially leading to a run at the 159 handle and a return to the April 29 high of 160.209. A break below the 156 handle could bring the 50-day EMA into play and signal a drop toward the 151.685 support level. Near-term trends for the USD/JPY will depend on US retail sales figures, inflation numbers from Japan, and preliminary Services PMIs.
#Usd/jpy #MachineryOrders #EconomicUncertainty #BankOfJapan #UsManufacturingSector #Fomc #MovingAverages
https://www.fxempire.com/forecasts/article/usd-jpy-forecast-machinery-orders-slide-as-economic-uncertainty-lingers-1438476
FX Empire /
npub1lj…9zjdc
2024-06-17 02:53:48
Author Public Key
npub1ljmz9hjq6kkwm5ltqfc6dpw9ytalhtnf7sgp4r75dqvtsq2wz9sqp9zjdcPublished at
2024-06-17 02:53:48Event JSON
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"content": "USD/JPY Forecast: Machinery Orders Slide as Economic Uncertainty Lingers\n==========\n\nOn Monday (June 17), machinery orders from Japan slid by 2.9% in April after rising by 2.9% in March, signaling a waning demand outlook. The Bank of Japan remains focused on wage growth, services, and household spending to drive an economic recovery and demand-driven inflation. US manufacturing sector data and FOMC Member commentary will also be in focus. The USD/JPY is comfortably above the 50-day and 200-day moving averages, with a breakout above 158 potentially leading to a run at the 159 handle and a return to the April 29 high of 160.209. A break below the 156 handle could bring the 50-day EMA into play and signal a drop toward the 151.685 support level. Near-term trends for the USD/JPY will depend on US retail sales figures, inflation numbers from Japan, and preliminary Services PMIs.\n\n#Usd/jpy #MachineryOrders #EconomicUncertainty #BankOfJapan #UsManufacturingSector #Fomc #MovingAverages\n\nhttps://www.fxempire.com/forecasts/article/usd-jpy-forecast-machinery-orders-slide-as-economic-uncertainty-lingers-1438476",
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