USD/JPY: awaits Japan's key inflation data - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that USD/JPY is within a tight consolidation around 122.50.

    Key Quotes:

    "The USD/JPY pair consolidates in a 30 pips range this Thursday, unable to pick up despite the strong tone in European equities.

    With no data scheduled for the US session, investors will likely waiting until early Friday to trade the pair, when Japan will release its National and Tokyo inflation figures for October, alongside with some employment and investment data.

    In the meantime, the 1 hour chart shows that the price remains below a bearish 100 SMA, while the technical indicators present tepid bearish slopes below their mid-lines.

    In the 4 hours chart, the price hovers below a still bullish 100 SMA, while the technical indicators lack directional strength but remain below their mid-lines, in line with additional declines, particularly on a break below 122.20 a key support."
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