September is here. We are now approaching the biggest focal point for the year regarding how the USD/JPY uptrend will pick up pace. At present, US GDP growth for Jul-Sep appears to be over 3%. This week’s data releases include the August ISM Index, auto sales, and payrolls. Once the market is confident that growth above 3% will continue, we see that the USD/JPY will rise past 105 as the outlook strengthens for the Fed to move up rate hikes.
Read the full report: FX Daily