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USD/JPY clings to gains on US CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback manages to keep the trade above the 121.00 handle vs. the Japanese yen today, with USD/JPY hovering over 121.10/15 so far.

    USD/JPY within range post-data

    The pair kept the composure after US consumer prices tracked by the CPI have risen at an annual pace of 0.5% during November, surpassing forecasts for a 0.4% gain. Prices excluding Food and Energy costs rose 2.0% on a yearly basis, matching prior surveys. In addition, the NY Empire State Manufacturing index has come in at -4.59, bettering both expectations and November’s reading.

    In the meantime, the pair keeps alive the recovery from 120.60 ahead of further US data releases: NAHB index and TIC Flows.

    USD/JPY levels to consider

    As of writing the pair is advancing 0.01% at 121.01 facing the next handle at 121.52 (55-day sma) followed by 121.91 (61.8% Fibo of 125.28-116.47) and then 123.67 (high Dec.2). On the other hand, a breach of 119.84 (38.2% Fibo of 125.28-116.46) would expose 119.80 (4-month uptrend) and finally 118.04 (low Oct.15).
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