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27 Feb 2015
USD/JPY: Headed south, failing on 119 handle again
FXStreet (Guatemala) - USD/JPY is currently trading at 119.26 with a high of 119.42 and low of 119.23.
USD/JPY is offered in the open of Tokyo after a strong performance from the greenback overnight on positive data and echoes of Yellen's recent testimony reminding markets that the Fed is data dependent. From Japan, the inflation numbers were released but these came "largely unchanged", as noted by Ivan Delgado, head of Asian editors at FXStreet, with a down-tick in the core nationwide CPI the most notable outcome.
In the US, very a strong greenback came in the wake of January's real weekly wages up by 1.2% vs 0.3% consensus, Durable goods that were impressive also and CPI excluding autos and food were higher than expected also. Technically, we are neutral still as the pair still has been unable sustain any of these breaks higher out from a converging range of Nov highs and Dec 2015 lows, but has yet to break down either. Resistance in the main comes at the February high at 120.48 before the 121.86 December high and the psychological 120 level still needs to give.
USD/JPY is offered in the open of Tokyo after a strong performance from the greenback overnight on positive data and echoes of Yellen's recent testimony reminding markets that the Fed is data dependent. From Japan, the inflation numbers were released but these came "largely unchanged", as noted by Ivan Delgado, head of Asian editors at FXStreet, with a down-tick in the core nationwide CPI the most notable outcome.
In the US, very a strong greenback came in the wake of January's real weekly wages up by 1.2% vs 0.3% consensus, Durable goods that were impressive also and CPI excluding autos and food were higher than expected also. Technically, we are neutral still as the pair still has been unable sustain any of these breaks higher out from a converging range of Nov highs and Dec 2015 lows, but has yet to break down either. Resistance in the main comes at the February high at 120.48 before the 121.86 December high and the psychological 120 level still needs to give.