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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD: Buyers and sellers jostle around 0.6600 as coronavirus keeps the driver’s seat

AUD/USD carries the New York session’s downbeat sentiment forward while taking rounds to 0.6600 at the start of the Asian session on Wednesday. While the coronavirus-led risk-off keeps the risk barometer under pressure, weakness in the US dollar restricted the pair’s losses.

AUD/USD News

USD/JPY consolidates losses but bears keep the baton amid coronavirus fears

USD/JPY consolidates losses to 110.20 amid the initial Asian session on Wednesday. That said, the pair portrayed the broad risk-off, led-by coronavirus fears, while declining for the third day in a row during the previous day.

USD/JPY News

Dollar domination set to continue, with or without coronavirus fears

The coronavirus-related fall in US bond yields has been weighing on the US dollar. Nevertheless – and despite worries coming from Markit's PMIs – the greenback is set to gain more ground.

Read more

Gold: Pares early losses, still in the red below $1650 level

Gold extended previous day's intraday retracement slide from multi-year tops and witnessed some follow-through long-unwinding trade on Tuesday.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures