GMT
14:00 PM USD Consumer Confidence (AUG) (actual) 54.1 (forecast) 47.9 (previous month) 47.4
The initial move was to the upside for USD/JPY and EUR/JPY. The next two or so hours will be pivotal, as the market will determine whether the pairs will have enough momentum to break through their resistence levels of 95.00 for USD/JPY and 136.00 for the EUR/JPY (see chart below), or whether this will be more of a sell-on-the-news type situation.
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