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16 Sep 2015
USD/JPY still in red, near 120.40
FXStreet (Edinburgh) - The Japanese currency is now losing further ground vs. its American counterpart on Wednesday, prompting USD/JPY to regain the 120.40 area.
USD/JPY focus on US CPI, FOMC
The pair’s decline has found some decent support around 120.10 at the end of the Asian session, although it is still trading in the negative territory. The BoJ has published its Monthly Economic Survey, but markets largely bypassed it.
The next risk event for the pair will be today’s CPI releases in the US economy, preceding Thursday’s FOMC gathering. According to previous surveys, headline prices are expected to have rise 0.2% on a year to August, while the Core gauge is seen ticking higher to 1.9% YoY from 1.8% YoY.
USD/JPY levels to watch
As of writing the pair is losing 0.04% at 120.36 and a breakdown of 119.40 (low Sep.15) would aim for 118.58 (low Sep.4) and finally 118.45 (low Aug.25). On the flip side, the immediate resistance is located at 120.67 (high Sep.15) followed by 120.85 (high Sep.14) ahead of 121.33 (high Sep.10).
USD/JPY focus on US CPI, FOMC
The pair’s decline has found some decent support around 120.10 at the end of the Asian session, although it is still trading in the negative territory. The BoJ has published its Monthly Economic Survey, but markets largely bypassed it.
The next risk event for the pair will be today’s CPI releases in the US economy, preceding Thursday’s FOMC gathering. According to previous surveys, headline prices are expected to have rise 0.2% on a year to August, while the Core gauge is seen ticking higher to 1.9% YoY from 1.8% YoY.
USD/JPY levels to watch
As of writing the pair is losing 0.04% at 120.36 and a breakdown of 119.40 (low Sep.15) would aim for 118.58 (low Sep.4) and finally 118.45 (low Aug.25). On the flip side, the immediate resistance is located at 120.67 (high Sep.15) followed by 120.85 (high Sep.14) ahead of 121.33 (high Sep.10).