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Forex: USD/JPY recovers the 101.66/72 level

FXstreet.com (Barcelona) - The USD/JPY has recovered from multiple setbacks today, the most recent being a bounce off the 101.55 level during European trading. After the release of economic data in the United States, the cross now finds itself edging higher towards 101.66/72 in these moments, incurring a loss still of -0.15% Tuesday.

In the United States, The Import Price Index (YoY and MoM) fell -2.6% in April (compared with a figure of -2.7% previously) and -0.5% in April (matching expectations of -0.5%) respectively. Conversely, the Export Price Index (MoM) contracted -0.7% in April, vs. a projection calling for -0.2%.

Mataf.net analysts posit the next means of support at 101.19, followed by 100.93, and ultimately 100.51. Should the pair rally, a break above 101.87 will initiate short-term resistances for the USD/JPY at 102.29, onto 102.55.

US Apr Import Price Index (MoM): -0.5%; -2.6% (YoY)

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US: Import Price Index fell 0.5% MoM in April

The Commerce Department has informed that US import prices have contracted 2.6% on a year to April and 0.5% on a monthly basis, vs. expectations at -2.7% and -0.2% respectively...
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