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17 Jul 2015
USD/JPY through 124.00 on US CPI
FXStreet (Edinburgh) - The greenback keeps eroding losses on Friday, now lifting USD/JPY to the 124.15/20 area.
USD/JPY a tad better on US data
The pair is struggling to recover levels above the 124.00 handle on a more sustainable basis despite the positive figures from the US docket today. In fact, US headline consumer prices matched expectations during June, rising at an annual pace of 0.1% while Core prices rose 1.8% YoY.
Further data saw a solid print from Building Permits and Housing Starts, expanding to 1.343 million and 1.174 million, respectively. Next on tap will be the preliminary gauge of the Reuters/Michigan index, expected at 97.0 for the present month.
USD/JPY relevant levels
The pair is now losing 0.02% at 124.12 with the immediate support at 123.38 (low Jul.15) followed by 122.92 (low Jul.14) and finally 122.50 (low Jul.13). On the upside, a breakout of 124.37 (high Jun.27) would aim for 124.58 (high Jun.10) and then 125.59 (high Jun.8).
USD/JPY a tad better on US data
The pair is struggling to recover levels above the 124.00 handle on a more sustainable basis despite the positive figures from the US docket today. In fact, US headline consumer prices matched expectations during June, rising at an annual pace of 0.1% while Core prices rose 1.8% YoY.
Further data saw a solid print from Building Permits and Housing Starts, expanding to 1.343 million and 1.174 million, respectively. Next on tap will be the preliminary gauge of the Reuters/Michigan index, expected at 97.0 for the present month.
USD/JPY relevant levels
The pair is now losing 0.02% at 124.12 with the immediate support at 123.38 (low Jul.15) followed by 122.92 (low Jul.14) and finally 122.50 (low Jul.13). On the upside, a breakout of 124.37 (high Jun.27) would aim for 124.58 (high Jun.10) and then 125.59 (high Jun.8).