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

Editors’ Picks

EUR/USD holds its ground amid mixed EU election results

EUR/USD is stable around 1.1200 amid mixed EU elections in which main parties lost ground to both centrist and extreme ones.  Trump said he hopes for a deal with China. Liquidity is thin due to a UK holiday.

EUR/USD News

GBP/USD ticks up as Brexit and Remain parties are balanced

GBP/USD is trading around 1.2750, recovering. Farage's Brexit party won the EU elections but a trio of Remain parties matched him. Uncertainty remains high after PM May's resignation announcement.

GBP/USD News

USD/JPY keeps gains near 109.50 amid light trading

The USD/JPY pair is on the bids near 109.50 ahead of Europe open on Monday. The 110.55/60 resistance-confluence including 100-day simple moving average (SMA) and 23.6% Fibonacci retracement of January to April rise acts as strong upside cap.

USD/JPY News

The Evolution of Three Issues are Key in the Week Ahead

As May winds down, the light economic calendar will allow investors to take their cues from the evolution of three disruptive forces--trade, Brexit and the US economy.  With actions against Huawei and possibly a handful of Chinese surveillance equipment producers, the US raised the stakes.

Read more

Gold aims to revisit $1289/90 despite UK/US holiday

With the pessimism surrounding global trade developments and greenback weakness joining EU election results, Gold prices are on the bids near $1287.30 while heading into the European session on Monday.

Gold News

Editors' pick

EUR/USD holds its ground amid mixed EU election results

EUR/USD is stable around 1.1200 amid mixed EU elections in which main parties lost ground to both centrist and extreme ones.  Trump said he hopes for a deal with China. Liquidity is thin due to a UK holiday.

EUR/USD News

GBP/USD ticks up as Brexit and Remain parties are balanced

GBP/USD is trading around 1.2750, recovering. Farage's Brexit party won the EU elections but a trio of Remain parties matched him. Uncertainty remains high after PM May's resignation announcement.

GBP/USD News

USD/JPY keeps gains near 109.50 amid light trading

The USD/JPY pair is on the bids near 109.50 ahead of Europe open on Monday. The 110.55/60 resistance-confluence including 100-day simple moving average (SMA) and 23.6% Fibonacci retracement of January to April rise acts as strong upside cap.

USD/JPY News

The Evolution of Three Issues are Key in the Week Ahead

As May winds down, the light economic calendar will allow investors to take their cues from the evolution of three disruptive forces--trade, Brexit and the US economy.  With actions against Huawei and possibly a handful of Chinese surveillance equipment producers, the US raised the stakes.

Read more

Gold aims to revisit $1289/90 despite UK/US holiday

With the pessimism surrounding global trade developments and greenback weakness joining EU election results, Gold prices are on the bids near $1287.30 while heading into the European session on Monday.

Gold News

eur/gbp

central banks

eur/usd

gbp/usd

usd/jpy

aud/usd

Signatures

bitcoin

ethereum

ripple


  •  
  •  
  •  
  •  
  •