USD/JPY Current price: 113.30
View Live Chart for the USD/JPY
Down from 113.60 as US data disappoints. The Japanese yen weakened during the past Asian session, on renewed speculation Prime Minister Abe will announce a fiscal stimulus plan and delay the increase of the sales tax, this Tuesday. The USD/JPY advanced up to 113.59, holding nearby during the European session. US data is pushing the pair lower, as CPE inflation fell into negative territory in February, which means the FED has less room to raise rates. The USD/JPY 1 hour chart shows that the technical indicators have crossed their mid-lines towards the downside with a strong bearish slope, although the price remains above the 100 and 200 SMAs, with the shortest around 112.50. In the 4 hours chart, the price remains above its moving averages that anyway maintain soft bearish slopes, while the Momentum indicator remains flat within positive territory. The RSI indicator is retreating from overbought territory, all of which suggests a short term slide but fails to confirm it. Should the price break accelerate below the 113.00 region, the pair has then scope to test the 112.00 region later on the day.
Support levels: 112.90 112.50 112.00
Resistance levels: 113.60 114.00 114.45
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