UTB_Groups

GMT+1 today Great Britian will release the CPI numbers. The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer.
A higher than expected reading should be taken as positive/bullish for the Currency, while a lower than expected reading should be taken as negative/bearish for the currency.

The Eurozone’s interest rate decision is anticipated to result in a rate cut to 3.65% from the current 4.25%, which would signal a strong dovish stance from the European Central Bank. If the ECB goes ahead with the forecasted cut, the Euro might weaken as lower interest rates reduce the currency’s appeal to investors seeking higher returns. In this case, the EURO pairs could decline.

However, if the ECB surprises the market by keeping rates unchanged, signaling concerns about inflation, the Euro could strengthen. A stronger-than-expected stance on interest rates would likely push the EURJO pairs higher.

Today September 6, 2024 Forex Analysis on USDJPY
The latest US ADP Non-farm Employment change & and Unemployment claims data that came out yesterday has tampered the aggressive expectation from FED Interest Rate Cut, the focus now is on NON-FARM PAYROLL report coming out today. On the other hand, there is expectation from Bank of Japan to increase rate if economic outlook supports such a move.
Technical Support Zones are @ Prices of 142.00 to 140.00 psychological numbers
See below chart for more clarity