USD/JPY dropped to 100-DMA as the week closed. US ADP and NFP figures reported a dismal scenario for the US dollar that helped the USD/JPY bears Delta variant is increasing in the United States that may keep the Greenback under pressure. The weekly forecast for the USD/JPY pair is bearish and may aim to run to mid-108.00. However, a technical upside retracement can be seen too. The USD/JPY pair remains broadly in a bearish trend ranging at the lower end as the week closes. The general weakness of the US dollar is weighing on the pair. Meanwhile, the surge in the Delta variant in the country and Fed’s unclear timeline on tapering may exacerbate the bears. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- The USD/JPY pair started the week at 109.80 and hit the highs just below the mid-110.00. However, the pair maintains the offered tone and looking to post further losses. US ADP and NFP reports The most important event of the week was the employment report of the United Stated. On Wednesday, the ADP employment report released widely missed the expectations of 640k jobs against the current reading of 374k. On Friday, the US nonfarm employment number also came too worse than expected. Only 235k jobs were added in August, while the expected figure was 750k. However, the unemployment rate reduced to 5.2%, and average hourly wages increased by 0.6%. The US dollar had already been under pressure throughout the week, but the dismal US NFP report weighed further and helped the major currencies sharply rise against the US dollar. Delta variant in the US There was an average of 163,600 Coronavirus cases per day in the United States over the past week, increasing 12 percent from two weeks ago. A total of 40 million cases is likely to be reported within days. More Coronavirus cases were reported in Oregon, Kentucky, and Guam in the past week than in any other seven-day period. In addition, the past week has been the deadliest for Coronavirus in Florida. A total of 101,500 patients have been hospitalized with Coronavirus, with more than 15,500 admitted to Florida hospitals, where hospital admissions are much higher than anywhere else in the country. On Monday, Kentucky’s unemployment rate was at its highest level in a year. Get FREE Forex Signals Now! Key events from Japan during Sep 06 – 10 The economic calendar is too light for the week ahead. However, the average household spending data is expected on Tuesday, and the figures are important to analyze the economic activity in the country. Moreover, the final GDP index y/y and final GDP q/q are expected to release on Wednesday with no major change in the data against previous readings. Key events from the US during Sep 06 – 10 The important events include the JOLTS job opening due on Wednesday ahead of Fed William’s speech in the US. Moreover, weekly unemployment claims are also important to note. Other than that, US PPI m/m data may also trigger volatility due on Friday. The figure is expected to slide to 0.6% against the previous month reading at 1.0%. –Are you interested to learn more about forex signals? Check our detailed guide- USD/JPY weekly technical forecast: 100-DMA pausing the bears USD/JPY weekly forecast – daily chart The USD/JPY pair came ack below the 20-day and 50-day moving averages. However, the downside is paused at the 100-day moving average. The volume supports bearish price action. We may see further losses to horizontal levels of 109.10 ahead of 108.75 and then 108.50. However, we may also see a relief rally in the first half of the week, and the pair can pull back to 110.00 ahead of 110.40. 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 USD JPY Forecast share Read Next Ethereum Price Down: Is It Time To Sell Before A Drop? Gerald Fenech 1 year USD/JPY dropped to 100-DMA as the week closed. US ADP and NFP figures reported a dismal scenario for the US dollar that helped the USD/JPY bears Delta variant is increasing in the United States that may keep the Greenback under pressure. The weekly forecast for the USD/JPY pair is bearish and may aim to run to mid-108.00. However, a technical upside retracement can be seen too. The USD/JPY pair remains broadly in a bearish trend ranging at the lower end as the week closes. The general weakness of the US dollar is weighing on the pair. 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