USDJPY awaits rate decision
 

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The greenback continues to gain positive traction against the Yen as price action moves higher. The pair has jumped over 600 pips so far this month and looks poised to climb further. The uncertainty over a rate cut this week weighs heavily on the Yen, as the Fed signals more cuts before the end of the year. The greenback has remained supported, even amid the government shutdown, leading the Yen to sink further. 153.00 is the target with 145150 as a firm support.
 

GBPUSD expecting strong PMIs
 

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The pound remains subdued after the recent dollar rally, but will be hoping for a turn with this week’s PMI data. In addition, rising geopolitical tensions and a shift in sentiment toward trade deals could halt a steady comeback for the dollar, which has seen continuous strength across the board. All eyes will be on the Fed to see whether it goes through with its expected rate cut, which could send the dollar spiralling out of control. Sterling sees a critical support at 1.3250, with 1.3480 as the resistance ahead.
 

NAS 100 attempting another record
 

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The tech-heavy Nasdaq held ground after a brief sell-off sent the index away from its previous record. Global equities avoided a sharp sell-off as we enter the final earnings season of the year. The index looks poised to gain some traction ahead of the next Fed decision, which has been the driving force of price action for most of the year. A break above 24900 would send the index to another record, with 24200 as the closest support.

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