USD/JPY Economic InsightsHello traders,
Just a quick insight on the Yen pair.
The USD/JPY pair has breached the 146.00 level, driven by the strengthening US dollar. AT the moment, investor attention is focused on the imminent release of the New York Empire State Manufacturing Business Conditions Index. It is important to note that there is an uptick in Japan's Producer Price Index (PPI) data.
We are expecting the following data to be released today:
1. Release of the New York Empire State Manufacturing Business Conditions Index.
2. Producer Price Index in Japan exhibits a 0.3% increase.
However, the prevailing market conditions suggest a preference for initiating a short-term buy position, which is in line with my Wlliott wave outlook on the pair (), but I prefer to watch.
Cheers and happy Trading!
