USD/JPY: continuing its consolidation after last week’s massive drop

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Summary

The USD/JPY pair started Today’s Asian session inside the daily Ichimoku cloud, continuing its consolidation after last week’s massive drop all the way from above the cloud to below it. Supports remain at 109.41 and 108.38. Japan’s All Industry Activity Index (MoM) (MAR) will be out today at the end of the Asian session at 4:30 AM GMT. As we head into the London session, Markit PMI data from France, Germany, and the EU zone will be released between 7:30 to 8 AM. The Markit US Services PMI (MAY P) will be up next during the New York session at 1:45 PM GMT, followed by New Home Sales (MoM) (APR) at 2 PM. New Zealand will be up next during the next day’s Sydney session with their Trade Balance at 10:45 PM GMT. Thanks for watching, invest responsibly and I wish you the best of luck making pips by trading forex.

 


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