Forex: USD/JPY easing on early Europe
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USD/JPY
FXstreet.com (Barcelona) - As the Asian session shifts to Europe, the USDJPY is weakening and printing daily lows. Early in Asian morning, the pair had ralied intensely from the lower end of the 86.00 mark to 86.64 high on the back of deflationary Japanese data.
The National CPI improved from -0.4% to -0.2% in November, but was still negative, as it was "Ex food and energy" and "Ex fresh food" data. Tokyo CPI fell further to -0.6%. The annualized flash Japan industrial production fell from -4.5% to -5.8% in November.
UBS analysts are bullish: "We expect more upside in the near term towards 89.16", wrote analyst Gareth Berry, pointing to 91.13 in case of a break.
The National CPI improved from -0.4% to -0.2% in November, but was still negative, as it was "Ex food and energy" and "Ex fresh food" data. Tokyo CPI fell further to -0.6%. The annualized flash Japan industrial production fell from -4.5% to -5.8% in November.
UBS analysts are bullish: "We expect more upside in the near term towards 89.16", wrote analyst Gareth Berry, pointing to 91.13 in case of a break.
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