Forex: USD/JPY prints low at 83.32 on options at 15:00 GMT NY cut
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USD/JPY
FXstreet.com (Barcelona) - Prospects of a Japanese general election in December 16 that could change to a more intervening government, headed by LDP's Shinzo Abe, with influence over the BoJ to promote more agressive monetary policy, have been weakening the JPY for a while now. Today's Asian session saw the USDJPY coming four pips short of the 84.00 mark, at 83.98 high.
The consolidative stage seen since then turned the daily candlestick upside down to "red" to a low of 83.32 printed on the New York cut with the option expirations at 15:00 GMT.
The flash December manufacturing figure eased from 52.4 to 52.2, still expansionary and beating the 52.0 consensus. Industrial production rose 1.1% in November, beating the 0.3% consensus and retracing the -0.7% contraction made in the prior month (revised from -0.4%).
"The break above the critical 82.80 set uptrend in the pair. The next target is the resistance at 84.20", wrote Deltastock.com analyst Stoyan Mihaylov, adding that failed breakthrough could lead to new range movement in the area 83.20 - 84.20.
The consolidative stage seen since then turned the daily candlestick upside down to "red" to a low of 83.32 printed on the New York cut with the option expirations at 15:00 GMT.
The flash December manufacturing figure eased from 52.4 to 52.2, still expansionary and beating the 52.0 consensus. Industrial production rose 1.1% in November, beating the 0.3% consensus and retracing the -0.7% contraction made in the prior month (revised from -0.4%).
"The break above the critical 82.80 set uptrend in the pair. The next target is the resistance at 84.20", wrote Deltastock.com analyst Stoyan Mihaylov, adding that failed breakthrough could lead to new range movement in the area 83.20 - 84.20.
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