USD/JPY Current price: 112.53
- Japanese Nikkei December manufacturing PMI expected unchanged at 54.2.
- USD/JPY up after FOMC Minutes helped US T-yields recover ground.
The USD/JPY pair advanced up to 112.57 this Thursday, as stronger-than-expected US data lifted the greenback against its Japanese rival, later fueled by the release of FOMC Minutes. Not that the document surprised investors, but after the release, US Treasury yields recovered the ground lost earlier on the day, helping the pair to extend its daily gains. Japan will see the release of the Nikkei manufacturing PMI for December during the upcoming Asian session, expected unchanged at 54.2, but ahead of US employment data, seems likely that the pair will remain confined to a tight intraday range. In the meantime, the risk is still skewed toward the downside as the pair can't move far above the critical 112.00 mark, while in the 4 hours chart, the price remains below its 100 and 200 SMAs, pressuring this last from below. In the same chart, the RSI indicator advances within negative territory, while the Momentum holds flat around its 100 level, indicating that buying interest remains limited around the pair.
Support levels: 112.40 112.00 111.60
Resistance levels: 112.75 113.10 113.50
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 securities. 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 Forex 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.