# USD/JPY biased lower unless US unemployment reverses its upward trend

> USD/JPY is biased lower after a sharp drop last Friday driven by Fed rate-cut bets and soft US core PCE inflation. Traders are looking for a decline in US unemployment to prevent further downside as the week's labour market data arrives. Analysts expect Fed rate cut expectations to dominate the pair's direction.

- Date: 2024-09-29 · published 2024-09-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/28540-usd-jpy-biased-lower-unless-us-unemployment-reverses-its-upward-trend
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of further Fed easing weaken the dollar, which tends to support dollar-priced commodities such as grains and oilseeds, though the effect on feed prices is indirect.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-01-31 | [USD/INR: Rupee Rises, GDP Revised Lower - Currency Live](https://feedsoft.ai/events/43419-usd-inr-rupee-rises-gdp-revised-lower-currency-live.md) | -0.8% | -0.7% |
| DXY | 2025-08-28 | [USD/JPY drifts lower ahead of Tokyo CPI and US PCE inflation report](https://feedsoft.ai/events/23563-usd-jpy-drifts-lower-ahead-of-tokyo-cpi-and-us-pce-inflation-report.md) | +0.0% | -0.2% |
| DXY | 2017-07-26 | [Metals: Gold Reverses Losses After Fed Statement \| Fox Business](https://feedsoft.ai/events/69894-metals-gold-reverses-losses-after-fed-statement-fox-business.md) | -0.4% | -0.4% |
| DXY | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.4% | -0.6% |
| DXY | 2026-07-30 | [Bank of Japan intervention sends USD lower across Asia \| Convera](https://feedsoft.ai/events/18596-bank-of-japan-intervention-sends-usd-lower-across-asia-convera.md) | -1.2% | -1.9% |

## Sources

- forex.com: https://www.forex.com/en/news-and-analysis/usd-jpy-biased-lower-unless-us-unemployment-reverses-its-upward-trend/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.