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Forex pairs in this Article » USD/JPY
FXStreet (Edinburgh) - The better tone of the greenback continues to push the USD/JPY higher on Thursday, currently hovering over 102.40/45.

USD/JPY boosted by US, Japan data

The massive trade deficit in the Japanese economy weakened the yen since the very beginning of the session while upbeat US manufacturing PMI tracked by Markit surprised investors to the upside, adding to the bullish mood around the pair. “While downside risks for USD/JPY have increased in the near-term, the pair continues to remain comfortably above support from its 200-day moving average at around 100.20. The release of the Japanese CPI report for January may weigh modestly upon the yen if inflation slows”, noted analysts at BTMU.

USD/JPY key levels

The pair is now up 0.12% at 102.38 with the next resistance located at 102.42 (high Feb.19) followed by 102.74 (high Feb.18) and then 102.84 (Kijun Sen line). On the downside, a break below 101.53 (daily cloud base) would open the door to 101.38 (low Feb.17) and finally 101.25 (low Feb.6).
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