The pair is expected to fall further to 132.00. JP Morgan researchers forecast poor NFP results. Japan’s economy recovered in Q2. The USD/JPY price forecast remains negative as the hurdles that the USD/JPY pair encountered around 133.00 during the Asian session are now in full force. As investors anticipate a weak performance from the US Nonfarm Payrolls (NFP) report, the asset has printed a low of 132.77 and is projected to decline further to approximately 132.00. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- JP Morgan researchers forecast that the US Nonfarm Payrolls (NFP) will be worse than expected at 200K in the July labor market data, compared to the consensus estimate of 250K jobs added in the month. The US economy created 372k new jobs in the labor market in June. The labor market is under tremendous pressure due to data showing a continuing decline in job creation. The unemployment rate, however, will hold steady at 3.6 percent. Increased labor market hazards result from rising interest rates and their compounding effects. Due to expensive dollars, business players are hesitant to invest. Low investment prospects cannot, therefore, hasten the process of creating jobs. According to a Reuters poll released on Friday, strong consumer spending on in-person services, which were no longer constrained by coronavirus restrictions, helped Japan’s economy recover in April-June after contracting in the prior quarter. USD/JPY key events today US Nonfarm Payrolls, which excludes the farming sector, tracks the change in the number of individuals employed during the preceding month. Job creation is the primary measure of consumer spending, which drives most economic activity. Investors will get to see the percentage of the labor force that is jobless and actively looking for work over the preceding month is measured by the unemployment rate. Get FREE Forex Signals Now! USD/JPY technical forecast: Rejection around 50 Fib level at 134.00 Looking at the 4-hour chart, we see the price was rejected at the 50.00 Fibonacci level and is currently pushing lower. This fib level has acted as resistance with confluence at the 134.00 psychological level. –Are you interested to learn more about forex bonuses? Check our detailed guide- The price has found support at the 30-SMA and might retest the fib level before possibly breaking below the SMA. The RSI has already started trading below 50, showing the sentiment has turned bearish. If the price breaks below the 30-SMA, it might retest support at 130.652 before possibly breaking below the level. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next AUD/USD Outlook: Declining Toward 0.6950 Ahead of RBA Statement Saqib Iqbal 4 days The pair is expected to fall further to 132.00. JP Morgan researchers forecast poor NFP results. Japan's economy recovered in Q2. The USD/JPY price forecast remains negative as the hurdles that the USD/JPY pair encountered around 133.00 during the Asian session are now in full force. As investors anticipate a weak performance from the US Nonfarm Payrolls (NFP) report, the asset has printed a low of 132.77 and is projected to decline further to approximately 132.00. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- JP Morgan researchers forecast that the US Nonfarm Payrolls… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.