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Forex pairs in this Article » USD/JPY (Barcelona) - Dollar recovery from yesterday's low at 80.00 area has spiked above 80.70 resistance area to hit fresh 2-week highs at 81.05, on generalized Dollar strength after the release of higher than expected inflation in May.

At the moment, the pair remains capped below 81.00 resistance area (20-day SMA/intra-day level), and above here, 81.30 (Jun 2 spike high) and 81.75 (may 31 high). On the downside, immediate support lies at 80.35 (day lows), and below here, 80.00 (Jun 13 lows) and 79.70 (Jun 8 low).

Consumer Prices rose 0.2% in May and 3.6% year on year, beating expectations of a 0% monthly advance and a 3.2% yearly increment. The Core CPI has risen 0.3% 0n the month and 1.5% year on year. Market consensus was 0.2% and 1.4% respectively.
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