21 Nov 2013
USD/JPY sustains 5-month highs performance
FXstreet.com (Chicago) - USD/JPY accumulates 0.97% in daily gains so far erasing earlier losses incurred during the week and sustaining 5-month highs in the afternoon of the American trading session.
Data recap, BoJ
Earlier in Japan, the BoJ released its interest rate decision at 0.1% maintaining past results. In the official press release, annotations included “Japan's economy has been recovering moderately. Overseas economies as a whole are picking up moderately, although a lackluster performance is partly seen. In this situation, exports have generally been picking up. Business fixed investment has been picking up as corporate profits have improved. Public investment has continued to increase, and housing investment has also increased. Private consumption has remained resilient, with some improvement observed in the employment and income situation. Reflecting these developments in demand both at home and abroad, industrial production has been increasing moderately. Meanwhile, financial conditions are accommodative.” In the US, initial jobless jobs evidenced an improvement with results at 323K vs. expected 335K. The PPI was 0.3% matching expectations and the marking manufacturing PMI was 54.3 vs. expected 52.4.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 100.95 and oscillates between the supports aligned at 100.87 (September 20th highs), 100.43 (November 15th highs) ahead of 99.78 (November 12th highs) and the resistances aligned at 101.61 (July 2nd highs), 102.64 (May 30th highs) followed by 103.72 (May 17th highs). At 5-month highs, the pair oscillates above the EMA20 and is considered slightly bullish on one-hour timeframe analysis by the FXstreet.com trend index.
Data recap, BoJ
Earlier in Japan, the BoJ released its interest rate decision at 0.1% maintaining past results. In the official press release, annotations included “Japan's economy has been recovering moderately. Overseas economies as a whole are picking up moderately, although a lackluster performance is partly seen. In this situation, exports have generally been picking up. Business fixed investment has been picking up as corporate profits have improved. Public investment has continued to increase, and housing investment has also increased. Private consumption has remained resilient, with some improvement observed in the employment and income situation. Reflecting these developments in demand both at home and abroad, industrial production has been increasing moderately. Meanwhile, financial conditions are accommodative.” In the US, initial jobless jobs evidenced an improvement with results at 323K vs. expected 335K. The PPI was 0.3% matching expectations and the marking manufacturing PMI was 54.3 vs. expected 52.4.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 100.95 and oscillates between the supports aligned at 100.87 (September 20th highs), 100.43 (November 15th highs) ahead of 99.78 (November 12th highs) and the resistances aligned at 101.61 (July 2nd highs), 102.64 (May 30th highs) followed by 103.72 (May 17th highs). At 5-month highs, the pair oscillates above the EMA20 and is considered slightly bullish on one-hour timeframe analysis by the FXstreet.com trend index.