USD/JPY spiraling around 108.35 in indecisive Friday markets

Pacific-Asia markets keeping USD/JPY stuck in place.
US CPI could spark Dollar moves to cap off the week.

Joshua Gibson FXStreet

USD/JPY continues to cycle in the midrange between 108.00 and 109.00, currently testing 108.35 as easy-flowing Pacific markets await meaningful data from the upcoming EU and US market sessions to close out the trading week.

The Dollar-Yen pairing finds itself trading into levels that started the week, and although the Greenback has been showing weakness across the broader fx marketspace, USD/JPY continues to grind out sideways.

Japanese data has been thin this week, with Yen traders remaining cautious amidst geopolitical tensions through the Asian sector, but Friday delivers a key USD driver late in the day at 13:30 GMT, when US Core CPI drops on markets (forecast 2.2%, last 2.2%), and with the US Fed taking a notably dovish stance this week, investors will be keeping a close eye on US inflation data which could push the Federal Reserve off of interest rate hikes for 2019.

USD/JPY Technical Levels

USD/JPY

Overview:
    Today Last Price: 108.39
    Today Daily change: -9.0 pips
    Today Daily change %: -0.0830%
    Today Daily Open: 108.48
Trends:
    Previous Daily SMA20: 110.27
    Previous Daily SMA50: 112.09
    Previous Daily SMA100: 112.2
    Previous Daily SMA200: 111.13
Levels:
    Previous Daily High: 108.5
    Previous Daily Low: 107.77
    Previous Weekly High: 110.48
    Previous Weekly Low: 104.75
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Previous Daily Fibonacci 38.2%: 108.22
    Previous Daily Fibonacci 61.8%: 108.05
    Previous Daily Pivot Point S1: 108
    Previous Daily Pivot Point S2: 107.52
    Previous Daily Pivot Point S3: 107.28
    Previous Daily Pivot Point R1: 108.73
    Previous Daily Pivot Point R2: 108.97
    Previous Daily Pivot Point R3: 109.45

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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