USD/JPY Current price: 110.63
The USD/JPY pair peaked at 111.03 immediately after the release of better-than-expected US inflation and employment data, as weekly unemployment claims fell to 284K from previous 298K, whilst inflation beat expectations in August, up by 1.9% YoY. The pair trades around pre-news levels ahead of Wall Street's opening, overall retaining its bullish tone. In the 4 hours chart, the price remains well above its 100 and 200 SMAs, with the shortest gaining upward traction below the largest. Technical indicators are horizontal within positive territory, aiming marginally higher, leaning the scale to the upside, although without confirming it. US equities and yields hold the key as a strong momentum there will likely help the pair to retest the mentioned high and even extend beyond it.
Support levels: 110.25 109.80 109.30
Resistance levels: 111.05 111.40 111.85
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.