USD/JPY: Yen snaps its gains, with investors’ focus on domestic inflation data

USDJPY

USDJPY Movement

For the 24 hours to 23:00 GMT, the USD weakened 0.30% against the JPY and closed at 98.43.

In the Asian session, at GMT0300, the pair is trading at 98.90, with the USD trading 0.48% higher from yesterday’s close.

The pair is expected to find support at 98.40, and a fall through could take it to the next support level of 97.89. The pair is expected to find its first resistance at 99.27, and a rise through could take it to the next resistance level of 99.64.

Investors await the release of Japan’s consumer price index data, which is expected to register a 0.8% (YoY) growth in September, following a 0.7% increase seen in the previous month.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/JPY. Bookmark the permalink.

Comments are closed.