OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY flirting with 120.00

FXStreet (Edinburgh) - The Japanese yen is losing some ground vs. its American counterpart on Friday, lifting USD/JPY to the 120.00 neighbourhood.

USD/JPY attention to Payrolls

The greenback is regaining some of its shine after FOMC member J.Williams has advocated for a rate hike by year-end at his speech on Thursday, leaving the door open for a re-test of the psychological barrier at 120.00.

Recall that the demand for the safe have JPY has been boosted yesterday amidst rumours that the BoJ could refrain from easing further in order to achieve its inflation goal.

In the data space, Japanese unemployment rate has unexpectedly ticked higher to 3.4% in August, while Jobs/Applicants ratio and Household Spending have both surpassed consensus.

USD/JPY levels to watch

As of writing the pair is advancing 0.13% at 120.08 facing the next hurdle at 120.72 (high Sep.16) ahead of 120.99 (high Sep.17) and finally 121.335 (high Sep.10). On the other hand, a breakdown of 119.24 (low Sep.29) would aim for 118.87 (low Sep.8) and then 118.58 (low Sep.4).

Australia: Rate cut in November and GDP growth of just 2% in 2016 – Goldman Sachs

Research Team at Goldman Sach’s, expect the Australia to grow at just 2% in 2016 and in addition expects a rate cut in Nov following the weak economic conditions of the country.
Read more Previous

NZD: Commodity price index posts first gain in six months – Deutsche Bank

Darren Gibbs, Chief Economist at Deutsche Bank, notes that the ANZ index of prices for New Zealand’s main commodity exports rose 5.5% mom in September in world price terms – the first increase since March.
Read more Next
Start livechat