USDJPY will go down for a bit, but it will be bullish later on.
Fundamentals
On June 29, Japan announced that the unemployment rate in May was 3%, the previous value was 2.8%, and the forecast was 2.9%, which means that the employment situation of Japanese citizens is still not optimistic. The yen is bearish and the US dollar is bullish. In contrast to the United States, the number of ADP employees in the United States is 692,000, and the expected value is 600,000. The actual value is greater than the expected value, which is good for the US dollar. The U.S.-Japan currency pair is bullish in the follow-up.
Technical
When the fast line crosses the slow line, it breaks the inherent long-term trend. Multi-party momentum, the fast line crosses the slow line from bottom to top is called the golden cross, and the outlook is bullish. We can see from the figure that on June 29, the blue fast strength line crossed the slow strength line from bottom to top, and a golden cross appeared. It achieved a large rise on June 30 and a cross appeared on July 1 today. Star means that there may be a wave of callbacks. Generally speaking, when the US-Japan direct currency pair maintains an ascending channel and then pulls back close to the resistance of the ascending channel, it will rise again and remain strong.
On June 29, Japan announced that the unemployment rate in May was 3%, the previous value was 2.8%, and the forecast was 2.9%, which means that the employment situation of Japanese citizens is still not optimistic. The yen is bearish and the US dollar is bullish. In contrast to the United States, the number of ADP employees in the United States is 692,000, and the expected value is 600,000. The actual value is greater than the expected value, which is good for the US dollar. The U.S.-Japan currency pair is bullish in the follow-up.
Technical
When the fast line crosses the slow line, it breaks the inherent long-term trend. Multi-party momentum, the fast line crosses the slow line from bottom to top is called the golden cross, and the outlook is bullish. We can see from the figure that on June 29, the blue fast strength line crossed the slow strength line from bottom to top, and a golden cross appeared. It achieved a large rise on June 30 and a cross appeared on July 1 today. Star means that there may be a wave of callbacks. Generally speaking, when the US-Japan direct currency pair maintains an ascending channel and then pulls back close to the resistance of the ascending channel, it will rise again and remain strong.