• USD/JPY has slipped below 127.30 as the DXY has surrendered half of its intraday gains.
  • The US PCE and GDP are seen unchanged.
  • The BOJ should make efforts to push inflation to 2%.

The USD/JPY pair has slipped lower after oscillating in a narrow range of 127.30-127.44 as investors are awaiting the release of the crucial US economic events, which are due in the American session. Investors are uncertain about the release of the US Personal Consumption Expenditure (PCE) and Gross Domestic Product (GDP) numbers are expected to remain on the sidelines.

As per the market consensus, the US PCE is seen unchanged at 7%, which looks sufficient to keep the greenback in the grip of bulls. The sustainability of the PCE figure at elevated levels is going to soar inflationary pressures further. This will spare no other alternative for the Federal Reserve (Fed) than to keep the monetary policy restrictive. The US dollar index (DXY) is holding itself above 102.00 and may remain higher amid improvement in the safe-haven’s appeal.

Apart from the US PCE, investors will also focus on the GDP numbers. The annualized GDP is seen at -1.4% while the GDP Price Index is expected to land at 8%.

On the Japanese yen front, the yen bulls have not responded much to the comment from Japanese Prime Minister Fumio Kishida that the Bank of Japan (BOJ) should make some efforts to achieve the targeted inflation rate of 2%, as per Reuters. Lower price pressures in the Japanese economy have restricted the growth catalysts, which are hurting yen on a broader note.

USD/JPY

Overview
Today last price 127.34
Today Daily Change 0.02
Today Daily Change % 0.02
Today daily open 127.32
 
Trends
Daily SMA20 129.18
Daily SMA50 126.23
Daily SMA100 120.76
Daily SMA200 116.71
 
Levels
Previous Daily High 127.5
Previous Daily Low 126.65
Previous Weekly High 129.78
Previous Weekly Low 127.02
Previous Monthly High 131.26
Previous Monthly Low 121.67
Daily Fibonacci 38.2% 127.17
Daily Fibonacci 61.8% 126.98
Daily Pivot Point S1 126.81
Daily Pivot Point S2 126.31
Daily Pivot Point S3 125.97
Daily Pivot Point R1 127.66
Daily Pivot Point R2 128
Daily Pivot Point R3 128.5

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD extends slide toward mid-1.0200s after US data

EUR/USD extends slide toward mid-1.0200s after US data

EUR/USD continues to decline toward 1.0250 during the American trading hours on Friday. After the data published by the UOM showed that the long-run inflation outlook rose to 3% in August from 2.9% in July, the dollar gathered strength against its rivals, weighing on the pair.

EUR/USD News

GBP/USD pushes lower 1.2100 on broad dollar strength

GBP/USD pushes lower 1.2100 on broad dollar strength

GBP/USD is trading deep in negative territory near 1.2100 during the American session on Friday. With the UoM's Consumer Sentiment Survey pointing to a modest increase in the long-run inflation outlook, the US Dollar Index extended its rally, reflecting a broad dollar strength.

GBP/USD News

Gold clings to modest gains above $1,790

Gold clings to modest gains above $1,790

Gold stays relatively resilient on Friday and trades modestly higher on the day above $1,790. Although the greenback continues to outperform its rivals on the latest US data, falling US Treasury bond yields help XAU/USD hold in positive territory.

Gold News

Shiba Inu ready to go ballistic: Shiba Eternity released in Vietnam

Shiba Inu ready to go ballistic: Shiba Eternity released in Vietnam

Shytoshi Kusama, the project leader of Shiba Inu announced the launch of Shiba Eternity for Vietnamese players. The game is available for testing and the team has asked users for their review. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Forex MAJORS

Cryptocurrencies

Signatures