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12 Aug 2013
USD/JPY pointing lower ahead of Japanese GDP
FXstreet.com (New York) - The USD/JPY foreign exchange rate was unable to get moving Monday, stuck in a narrow consolidation that’s left the pair residing in negative territory during Asian trading.
Later today at 23:50 GMT, Japan is slated to reveal a pair of key indicators, including Gross Domestic Product Annualized (Q2), and Gross Domestic Product (QoQ) in Q2. This will build into a second tranche of upcoming data out of Japan, culminating in the release of Industrial production and Machine Tool Orders at 4:30 GMT.
USD/JPY technical levels
At the time of writing, the USD/JPY is presently operating at 92.30 Monday, falling tepidly at -0.02% thus far during Asian trading and establishing fresh lows thus far. Technically speaking, the USD/JPY remains vulnerable below its 200-day SMA, despite being situated above supports at 96.17 (August 9 low), 96.09 (June 12 high), and 95.86 (August 8 low).
Later today at 23:50 GMT, Japan is slated to reveal a pair of key indicators, including Gross Domestic Product Annualized (Q2), and Gross Domestic Product (QoQ) in Q2. This will build into a second tranche of upcoming data out of Japan, culminating in the release of Industrial production and Machine Tool Orders at 4:30 GMT.
USD/JPY technical levels
At the time of writing, the USD/JPY is presently operating at 92.30 Monday, falling tepidly at -0.02% thus far during Asian trading and establishing fresh lows thus far. Technically speaking, the USD/JPY remains vulnerable below its 200-day SMA, despite being situated above supports at 96.17 (August 9 low), 96.09 (June 12 high), and 95.86 (August 8 low).