USDJPY InsightUS Dollar/Japanese YenFX:USDJPYshawntime_academyHello, subscribers! Please share your personal opinions in the comments. We’d appreciate your support and subscription. Key Points - The U.S. Department of Labor announced that, as of March, it had revised its previously reported annual increase in nonfarm jobs downward by 911,000 (from the originally published 1.79 million). This has fueled expectations for a “big cut” by the Federal Reserve. - Following a parliamentary no-confidence vote, Prime Minister François Bayrou has stepped down. The French government announced it will deploy 80,000 police officers and gendarmes to respond to a “national paralysis” movement triggered by backlash against upcoming austerity policies set for the 10th. French President Emmanuel Macron has nominated Sébastien Lecornu as the new Prime Minister. - Ahead of the release of the U.S. August PPI and CPI, concerns over inflation have intensified due to a surge in oil prices following Israel’s airstrike on Doha, Qatar. Major Economic Events This Week + September 10: U.S. August Producer Price Index (PPI) + September 11: ECB Interest Rate Decision, U.S. August Consumer Price Index (CPI) + September 12: U.K. July GDP, Germany August Consumer Price Index (CPI) USDJPY Chart Analysis The pair failed to break through resistance at the 149 level, leading to a pullback. However, it is showing signs of recovering from the 146 level, where support has formed, suggesting the formation of a small consolidation range. This box range appears to be between 146 and 149. The long-term direction will depend on price action at each support and resistance level. In the short term, upward movement toward the top of the range is more likely.