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USD/JPY: slightly offered ahead of Jackson Hole

USD/JPY is a bit of a dead fish in the water as we open in Tokyo while markets have had very little to go on while we await the Jackson Hole and Yellen speaking.

There was some less than poor data  from the US in durable goods overnight, a key component to the GDP figures that has been struggling to bounce back from a poor Q1. nonetheless, we will get the second estimate of the US GDP for Q2 tomorrow and should there be further downward revisions, this could overshadow anything remotely hawkish from Yellen and weaken the outlook for the greenback. 

US key data wrap ahead of Jackson Hole - ANZ

USD/JPY levels

With spot trading at 100.45, we can see next resistance ahead at 100.49 (Daily Classic PP), 100.52 (Hourly 20 EMA), 100.53 (Daily Open), 100.53 (Weekly High) and 100.60 (Daily High). Support below can be found at 100.42 (Daily Low), 100.42 (Weekly Classic PP), 100.39 (Hourly 100 SMA), 100.39 (Hourly 200 SMA) and 100.34 (Daily Classic S1). Regarding candlestick formations, we can see Doji formation on the 1-hour.

GMT
Event
Vol.
Actual
Consensus
Previous
Thursday, Aug 25
12:30
 
1.5%
0.5%
-0.3% Revised from -0.5%
12:30
 
4.4%
3.5%
-4.2% Revised from -4.0%
12:30
 
261K
265K
262K
12:30
 
2.145M
2.153M
2.175M
13:45
 
51.5
 
51.8
13:45
 
50.9
52.0
51.4
14:30
 
11B
18B
22B
15:00
 
-7
 
-15
17:00
 
1.423%
 
1.340%
Friday, Aug 26
24h
 
 
 
 

Author

Ross J Burland

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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