Yesterday, weak results from the August private jobs report and new jobless claims caused the dollar to fall, but it was quickly bought back. Before today’s U.S. jobs report, some investors are buying the dollar to adjust their positions.
On August 1, after the July jobs report, the dollar-yen dropped from 150.90 to 146.22. The next day, it recovered to 149.13, which means the earlier price gap was filled.
For today’s jobs report, unless the result is very strong, the dollar may be sold again even if it rises for a while.
The upside target is around 149.00–149.20 (200-day moving average and 61.8% retracement). If it goes above this level, it could rise further to about 149.80.
Dollar–Yen expected range: 147.50 – 149.20 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.