Forex News

Greenback stable near 107.40 vs. Japanese yen after US inflation data

  • USD/JPY is unfazed after the release of the US CPI which came in worst-than-expected.
  • Support can be seen near the 107.00 price level. 

 

USD/JPY daily chart

 

USD/JPY remains essentially directionless while trading below the main SMAs as the recent US inflation dated disappointed. 

  

USD/JPY four-hour chart

 

USD/JPY is trading off the May highs just below the 200 SMA on the four-hour chart. Bulls want a continuation of the upward movement started a few days ago with an initial target of 108.20 followed by the 109.00 level. Conversely, sellers will be looking for a break below the 107.00 level and run towards the 106.30 level in the medium-term.

 

Additional key levels

 

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