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Forex Flash: USD/JPY strategy profile – Westpac

With the end of the month approaching, we start to think towards the usual splurge of Japanese data. “Investors get CPI and the PMI next Friday, however that is likely to be of secondary focus for markets given we also have the BoJ semi-annual outlook meeting/ publication of outlook report on Friday too. Keep an eye on the weekly MoF buying foreign bond data Thursday.” notes Global FX Strategist at Westpac.
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Forex: USD/JPY fall held by 98.00 handle

The USD/JPY erased all its gains made during the European morning up to 98.53 high as the market couldn’t find its way above 98.50 resistance. Then, option activity strengthened the Yen back to the 98.00 ground and the publication of disappointing US manufacturing data sent the pair to 97.92 low. Support at the 98.00 handle is working in favoring of an ongoing bouncing movement.
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