USD/JPY Analysis: Trades under resistances
|USDJPY
During the previous trading session, the US Dollar passed the resistance of the 38.20% Fibonacci retracement level to end the trading session at 108.48. During Friday morning hours, the currency exchange rate was resisted by the 100-hour simple moving averages to the 108.30 mark.
It is expected that the currency exchange rate will be trading sideways between the 38.20% Fibo at 108.43 and the weekly pivot point at 107.96.
On the other hand, the US Dollar could be depreciated against the Japanese Yen during today's US CPI and Core CPI data releases at 13:30 GMT to trade below the weekly pivot point at the 107.60 level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.