News

USD/JPY New York Price Analysis: Greenback stable near 107.40 vs. Japanese yen after US inflation data

  • USD/JPY is unfazed after the release of the US CPI which came in worst-than-expected.
  • Support can be seen near the 107.00 price level. 
 

USD/JPY daily chart

 
USD/JPY remains essentially directionless while trading below the main SMAs as the recent US inflation dated disappointed. 
  

USD/JPY four-hour chart

 
USD/JPY is trading off the May highs just below the 200 SMA on the four-hour chart. Bulls want a continuation of the upward movement started a few days ago with an initial target of 108.20 followed by the 109.00 level. Conversely, sellers will be looking for a break below the 107.00 level and run towards the 106.30 level in the medium-term.
 

Additional key levels

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.