The USD/JPY remains firmly bullish for the sixth consecutive session this Friday. The pair has risen about 55 pips so far this day, jumping over the 114.00 barrier to reach new three-year highs at 114.32.
The pair ignores the dollar’s stagnation today against other pairs and in its DXY index, which has fallen to daily lows at 93.84 and is now trading above 93.92, losing 0.05% daily. However, some recovery in the 10-year US bond yields. at 1.544% from 1.51% last night it does help the pair in its rise.
In Japan, the tertiary industry index for August was published today, which has shown a fall of 1.7%, worsening the 0% expected and the previous -0.6%, the largest decrease since May. Notably, the Japanese government lowered its export outlook for the first time in seven months in its monthly report for October. A weak yen against the dollar may favor Japanese exporters.
In the next few hours everything will revolve around the US retail sales data for September, which could fall 0.2%, and the preliminary consumer confidence from the University of Michigan for October, which is expected to rebound to 73.1.
Niveles USD/JPY
With the pair trading at the time of writing above 114.28, gaining 0.5% on the day, the next resistance appears at 114.55, ceiling of October 3, 2018. Higher up awaits the barrier 114.73, ceiling of November 6, 2017. Above, the target is in the psychological zone 115.00.
To the downside, the main support is in the region of 113.20/30, where are the lows of October 13 and 14. Further down there is room to return to 113.00, ground of October 12.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
