USD/JPY seesaws around 112.00 as Japan National CPI matched expectations

  • Japan national CPI matched 0.5% forecasts whereas core CPI crossed market expectations.
  • Geopolitical news reports may gain more attention due to lack of economics on hand and Good Friday holidays at major markets.

USD/JPY trades near 112.00 during early Friday after Japan’s headline inflation number matched estimations with core figure beating the forecasts.

Japan’s March month national consumer price index (CPI) (YoY) matched expectations of 0.5% increase versus 0.2% earlier while national CPI ex-fresh food, also known as national core CPI, ticked up from 0.7% forecast and prior to 0.8%. It should also be noted that national CPI ex-food and energy remained unchanged at 0.4%.

Even after recovering most of the losses on the back of upbeat retail sales print by the US, the USD/JPY pair remained on the downside as investors chose to avoid taking risks ahead of the long weekend including Good Friday break. It can also be said that geopolitical news reports from North Korea and Libya also supported safe-havens.

With the Japanese markets open amid close at various global bourses, traders may observe developments surrounding Japan and risk-on for fresh impulse as the economic calendar is silent for the rest of the day.

USD/JPY Technical Analysis

Unless clearing the region between 111.80 and 112.15 comprising highs marked Since March 05, lesser moves are expected to take place. In case of a downside break, 200-day simple moving average (SMA) near 111.55, followed by 111.30 and 111.00, could please sellers ahead of challenging them with 100-day SMA level near 110.80.

Alternatively, an upside clearance of 112.15 can escalate the quote to 112.30 but a downward sloping trend-line since October 2018 may question the bulls around 112.85 which if broken could print 113.20 and 113.80 on the chart.

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Recovery could continue in the short-term

The EUR/USD pair has recovered some ground Friday, ending the week with modest gains at around 1.1050. The American dollar extended its slide as speculative interest couldn’t find a reason to keep on buying it. 


GBP/USD: Brexit hopes maintain Sterling afloat

The GBP/USD pair hit a daily high of 1.2918 on Friday, boosted by news indicating that the  Brexit Party has decided to step down from 43 additional constituencies where Labour won, facilitating the way for a Conservative majority.


USD/JPY: Pressuring resistance but without enough strength

The USD/JPY pair trimmed part of its weekly losses last Friday, closing the week in the red at around 108.80. Demand for safe-haven assets eased despite persistent tensions between the US and China.


Gold looks to close week with small gains below $1,470

The precious metal struggled to find demand on Friday as the upbeat market mood on renewed hopes of the United States and China reaching a trade deal to avoid a tariff hike in December caused investors to move away from safe havens.

Gold News

Crypto Today: Playing with the thin red line

BTC/USD has fallen below $8,500 during the Asian trading session. A close below this support level would put $7,500 on the trading table. ETH/USD is moving below the 50-period exponential moving average.

Read more