15 Dec 2015
USD/JPY flirting with 121.00
FXStreet (Edinburgh) - After dropping to session lows near 120.60, USD/JPY has managed to regain the 121.00 neighbourhood ahead of key US releases.
USD/JPY looks to US CPI
The pair is navigating in a narrow range during the first half of the week, currently hovering over the 121.00 handle while market participants are getting ready for the critical FOMC meeting due tomorrow.
In the data space, November’s inflation figures are due in the US calendar, with the CPI expected to have gained 0.5% on a yearly basis. Core prices are seen at 2.0% YoY.
USD/JPY levels to consider
As of writing the pair is advancing 0.04% at 121.06 facing the next handle at 121.52 (55-day sma) followed by 121.91 (61.8% Fibo of 125.28-116.47) and then 123.67 (high Dec.2). On the other hand, a breach of 119.84 (38.2% Fibo of 125.28-116.46) would expose 119.80 (4-month uptrend) and finally 118.04 (low Oct.15).
USD/JPY looks to US CPI
The pair is navigating in a narrow range during the first half of the week, currently hovering over the 121.00 handle while market participants are getting ready for the critical FOMC meeting due tomorrow.
In the data space, November’s inflation figures are due in the US calendar, with the CPI expected to have gained 0.5% on a yearly basis. Core prices are seen at 2.0% YoY.
USD/JPY levels to consider
As of writing the pair is advancing 0.04% at 121.06 facing the next handle at 121.52 (55-day sma) followed by 121.91 (61.8% Fibo of 125.28-116.47) and then 123.67 (high Dec.2). On the other hand, a breach of 119.84 (38.2% Fibo of 125.28-116.46) would expose 119.80 (4-month uptrend) and finally 118.04 (low Oct.15).
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