FXStreet — The Japanese Yen rose after good inflation figures from Japan. So it went for the currency pair USD/JPY initially in the Asian business steeply down to a new Three-day Low at 110,88. However, the Greenback in early New York trading as a reaction to good macro data from the United States, new commandments, and the currency went pair of on the road to recovery. Most recently it was listed on 111,35 and to 0.45 percent in the Minus.
Positive US growth figures and rising personal consumption expenditures had enabled the US Dollar Index on the last trading day of the current week to make a Comeback. As a result, the Index jumped to a new week high at 97,46. Also, yields on short-term US government bonds reacted positively to today’s Mix, and the expectations of interest rate hikes by June.
On the other hand, the risk appetite does not want to rise today, really, what will the US stock markets to see which are still close to their Opening prices record. This allows the JPY to defend its gains against the US Dollar.
The next Resistances are at 112,00 (psychological level/50% Fibo), 112,40 (20-DMA) and 112,90 (Fibo 23.6%). On the downside, the next support can be found at 111,20 (50-DMA), 110,50 (Fibo 23.6%) — 110.00 (psychological mark).
** FXStreet News Editorial, FXStreet**
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