The market moves on speculation, but will it stay in a range until the employment report?

USD/JPY 15-minute chart
Last night’s US ISM Non-Manufacturing (Composite) PMI (November) [56.0]
Forecast: 55.5
Actual: 52.1

This led to dollar selling, but
subsequently Fed Chair Powell indicated
that the US economy is notably strong, so
the dollar was bought,
and December FOMC rate cut was priced in as being skipped

Recently, a rebound at the mid-point of a large rise
followed by a retreat at the mid-point of the rise
and then a rise at the mid-point
the wave is oscillating around the 0.5 Fibonacci level

In the short term, there seems to be a buildup of energy

With indicators continuing to be announced, it seems to be moving without a clear direction ahead of tomorrow’s payroll data?

Until tomorrow’s payroll data,
there will be some overshoot,
but it may stay within the cream-colored zone?

1-hour chart

Stocks rise and the dollar/yen remains strong on reports of rate hike being postponed this year

I was surprised by reports of a state of emergency in Korea

Initially, it was a “risk-off yen buying”

The yen strengthened to around 148.65 per dollar

But the parliament rejected the state of emergency,

and dollar/yen bought again

Furthermore, Jiji Press reported that the Bank of Japan would be keeping rates unchanged for the year

and dollar/yen short positions were

repeatedly bought back in large amounts

However, regarding Japan’s rate hike in December

it has not been decided to postpone

Even if nothing happens in December, by January

there will be a rate hike. This dollar/yen rally

will settle down, and then

we will target selling dollar/yen on a short position.