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FxWirePro: USD/ JPY bull run stalling but still very much alive

 • USD/JPY eased  from two week high on Tuesday    as investors waited on a raft of data to determine how deeply the U.S. can cut interest rates.

  • Investors will closely monitor the U.S. August non-farm payrolls report set for release on Friday. Economists surveyed expect an increase of 165,000 jobs in the U.S.

• Investors are also keeping a close eye on the ISM surveys, JOLTS job openings, and the ADP employment report.

• Immediate resistance is located at 147.16 (38.2%fib), any close above will push the pair towards 148.00 (Psychological level).

•  Support is seen at 145.74 (Sep 2nd low) and break below could take the pair towards 145.22 (23.6%fib)

Recommendation: Good to sell  around 146.60, with stop loss of 146.00 and target price of 147.20

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