Today, Friday 5th October sees the release of the September Employment report from the US.
Given the recent, early October surge to higher yield across the US Treasury after a slightly more hawkish tone from Fed Chairman Jerome Powell, the Employment report will be much watch as usual, with particular focus on the inflationary pressures from wage growth and average hourly earnings.
The S&P 500 future reversed on Thursday below a key up trend line from the summer and also completed a small technical Double Top pattern, which skews risks lower into Friday’s report.
For USDJPY, a setback from below key resistance at 114.73 sees the threat to support levels and maybe a more negative technical picture.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/sp-500-and-usdjpy-downside-threats-into-us-employment-report/