• 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
