USD/JPY (week of 14-18/11)

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Weekly Summary

Dollar/Yen is trading around 140.32 after ending the previous session at zero (up 0%) .

A good end to the trading week, USD/JPY is up to 140.32, after closing yesterday at zero. Overall, a 0% move or 14,032 pips this week. (Start trading Dollar/Yen at FXTM today).

On the flip side, following a previous reading of 1.1, GDP in Japan released Monday fell short of the 0.3 figure expected by analysts with an actual reading of -0.3.

At the same time, United States Existing Home Sales (Oct) came out at 4.43 million, while a consensus of analysts was expecting 4.38 million. Japan National Core CPI (YoY) (Oct) released yesterday at 23:30 UTC with a figure of 3.6, while the previous figure was three. Japan National CPI (MoM) released yesterday at 23:30 UTC with a figure of 0.6, while the previous figure was 0.3. United States Philadelphia Fed Manufacturing Index (Nov) came out at -19.4, while a consensus of analysts was expecting -6.2.

Furthermore, the market is looking at Japan Tokyo Core CPI (YoY) (Nov) is expected Thursday. Japan Services PMI is expected Thursday. Japan CFTC JPY speculative net positions scheduled to come out Friday.

Nov. 18, 2022

A slow down? After three days of going up, Dollar/Yen is flat today, hovering around 140.32.

(23:12) GMT

Marginally higher but lacking a clear-cut direction, Dollar/Yen is trading at 140.32 after ranging between 139.6 and 140.5 today.

Meanwhile, Japan CFTC JPY speculative net positions released today at 19:30 UTC with a figure of -75,300, while the previous figure was -75,300. United States Existing Home Sales (Oct) came out at 4.43 million, while a consensus of analysts was expecting 4.38 million. Fresh National Core CPI (YoY) (Oct) data from Japan came out at 3.6.

Technical analysis trend indicators suggest that although up today, early price action saw USD/JPY dropping below its 5 day Simple Moving Average at 139.74 — an early indicator that a new downward trend could be emerging. As the trading day comes to an end, chart analysis indicates after reaching the known resistance zone beginning at 140.49, Dollar/Yen price action retreated approximately 16 pips.

Notwithstanding Dollar/Yen's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Elsewhere, other currency pairs are also gaining ground as GBP/CAD is up 0.63%.

While Dollar/Yen is up today, these currencies are lagging behind: EUR/NZD is down 130 pips from the beginning of the session and now trades around 1.6777. EUR/GBP closed at 0.8685 (down 0.55%).

Having set a peak of 150.1 around 29 days ago, Dollar/Yen is now trading 6.57% below this level.

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