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28 Feb 2014
USD/JPY capped at 102.00
FXStreet (Edinburgh) - The area around the 102.00 handle still remains elusive for USD/JPY bulls on Friday, with spot currently navigating the 102.90/80 region.
USD/JPY lower on Japanese data
The Japanese yen gained traction on Friday after key inflation figures came in better than estimates in February. Adding to the sentiment, Industrial Production advanced 4.0% inter-month in January and the jobless rate remains steady at 3.7%. “The take-away is that real sector data, including industrial production, overall household spending, and retail sales were stronger than expected”, noted analysts at BBH. Ahead in the day, US GDP Annualized would grab all the attention, with consensus expecting the US economy to have expanded 2.5% during Q4.
USD/JPY levels to consider
As of writing the pair is down 0.18% at 101.93 and a breach of 101.38 (low Feb.17) would open the door to 101.25 (low Feb.6) and finally 100.80 (low Feb.5). On the upside, the initial barrier lines up at 102.20 (high Feb.28) followed by 102.29 (daily cloud base) and then 102.45 (high Feb.27).
USD/JPY lower on Japanese data
The Japanese yen gained traction on Friday after key inflation figures came in better than estimates in February. Adding to the sentiment, Industrial Production advanced 4.0% inter-month in January and the jobless rate remains steady at 3.7%. “The take-away is that real sector data, including industrial production, overall household spending, and retail sales were stronger than expected”, noted analysts at BBH. Ahead in the day, US GDP Annualized would grab all the attention, with consensus expecting the US economy to have expanded 2.5% during Q4.
USD/JPY levels to consider
As of writing the pair is down 0.18% at 101.93 and a breach of 101.38 (low Feb.17) would open the door to 101.25 (low Feb.6) and finally 100.80 (low Feb.5). On the upside, the initial barrier lines up at 102.20 (high Feb.28) followed by 102.29 (daily cloud base) and then 102.45 (high Feb.27).