Thursday, September 29, 2016

USD/JPY Higher

USD/JPY received a boost in price due to lower than expected Japan data. The pair was trading at 100.10 earlier this week and today it made a high of 101.75. Both technicals and fundamentals played a role as the pair reached a strong support zone at the latest low and bulls reacted to support the price from falling further.

Moreover, depreciation in price was strengthened due to the economic data released in the early trading hours. JPY retail trade YoY and MoM turned out to be worse than the forecast, as well as JPY Large retailers' sales were also below expectations. Have in mind that these factors do not play a major role in determining the direction of the trend.

Tomorrow, however, we have the JPY National Consumer Price Index YoY (AUG) and this is something we need to keep an eye on.

Chart: USD/JPY D1


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7 comments:

  1. UnknownSeptember 29, 2016 at 12:33 PM

    Excellent information to keep in mind.

    ReplyDelete
  2. UnknownSeptember 29, 2016 at 1:31 PM

    There's a shooting star candlestick on the four-hour time-frame, the move to the upside might stall for now.

    ReplyDelete
  3. UnknownSeptember 29, 2016 at 6:53 PM

    Thank you for the relevant information.

    ReplyDelete
  4. UnknownSeptember 30, 2016 at 9:34 AM

    It could have found some support.

    ReplyDelete
  5. UnknownSeptember 30, 2016 at 6:18 PM

    Excellent information to keep in mind.

    ReplyDelete
  6. UnknownOctober 5, 2016 at 6:00 AM

    The Yen stays under pressure.

    ReplyDelete
  7. UnknownOctober 14, 2016 at 10:11 PM

    Thanks for such an informative article.

    ReplyDelete

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