USD/JPY (week of 21-25/11)

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Weekly Summary

Dollar/Yen is trading around 139.1 after ending the previous session at zero (up 0%) .

A good end to the trading week, USD/JPY is up to 139.1, after closing yesterday at zero. Overall, a 0% move or 13,910 pips this week. (Start trading Dollar/Yen at FXTM today).

Uptick comes while some more positive signs for Dollar/Yen are out as United States Crude Oil Inventories released earlier showed a marked improvement to -3.69 million from the preceding data of -5.4 million, but fell short of the -1 million figure forecast by a consensus of market analysts.

At the same time, Japan Tokyo Core CPI (YoY) (Nov) came out at 3.6, while a consensus of analysts was expecting 3.5. Japan CPI Tokyo Ex Food and Energy (MoM) (Nov) released yesterday at 23:30 UTC with a figure of 0.2, while the previous figure was 0.2. Japan Services PMI released yesterday at 00:30 UTC with a figure of 50, while the previous figure was 53.2. United States New Home Sales (Oct) came out at 632,000.

Furthermore, the market is looking at Japan Industrial Production is projected to outperform its last figure with -1.5%. It previously stood at -1.7%; data will be released Tuesday. Japan Retail Sales is projected to outperform its last figure with 5%. It previously stood at 4.8%; data will be released Monday. Japan Jobs/applications ratio (Oct) is expected Monday.

Nov. 25, 2022

Dollar/Yen currency pair adds 50 pips or 0.37%

(23:12) GMT

Tentatively higher from an earlier low of 138.35, Dollar/Yen is up to 139.1 today, adding 50 pips, or 0.37%, to yesterday's closing price of 138.59.

At the same time, Japan Tokyo Core CPI (YoY) (Nov) released yesterday at 23:30 UTC with a figure of 3.6, while the previous figure was 3.4. Japan CPI Tokyo Ex Food and Energy (MoM) (Nov) released yesterday at 23:30 UTC with a figure of 0.2, while the previous figure was 0.2. Japan Services PMI came out at 50.

As the trading day comes to an end, chart analysis indicates USD/JPY broke through the 139.16 resistance and climbed 6 pips above it. Dollar/Yen formed a session range of 138.35 to 139.59 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of 138.79.

Other currencies are also rising as USD/CHF is up 0.31%. USD/CAD improves 0.32% to trade around 1.3377. EUR/JPY is up 0.27% to 144.65.

Having set a peak of 150.1 around a month ago, Dollar/Yen is now trading 7.67% below this level.

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