Wednesday, August 1, 2018

USD/JPY - 02 August 2018

  • Dollar
  • Yen
  • Bank of Japan

Fundamental Highlights

The money supply in Japan came out at 7.0% (MoM) which was a decrease from June's base of 7.4% and was lower than the forecasted 7.3%. These results may have a negative impact on the JPY. Other than that, expect a quiet session ahead for the pair as it continues to consolidate ahead of the U.S. NFP due tomorrow.

Technical Analysis

Looking at the technical side we see that USDJPY reached a peak of 112.15 yesterday before moving in a downward direction. As it seems USDJPY may be moving towards the 110.87 support before it retaliates back to yesterday's high of 112.15.

Support: 110.87 110.67
Resistance: 112.15 112.53

Chart (H1)