Dollar/Yen nudges to 104.08 after starting the day at 104.25 (down -0.16%)
USD/JPY remains in the 104.08 range after starting the session at 104.25 and dropping 16 pips.
Meanwhile, Japan Tokyo Core CPI (YoY) (Nov) matches expectations with new data release of -0.7. This is a step backward from the previous data of -0.5. Japan CPI Tokyo Ex Food and Energy (MoM) (Nov) was released with a new figure of 0.1, This is down from preceding data of 0.3.
At the same time, The Euro/Pound added 0.77% to its value, now trading at 0.8984 Gold is trading around 1,782 after starting the session at 1,805.5 (down 23.6 dollars).
The Yen is getting closer and is now only 56 pips from the support line at 103.32. Dipping below it might indicate further losses are ahead. At 104.06, dollar/yen made an initial breakout below the 5 day Simple Moving Average. The lower Bollinger band at 103.2, indicating a positive correction might be next. Overall, looking at all the technical indicators, it seems the Yen might reverse course and start pointing upward in the short term.
Dollar/Yen drifts to 104.23 after starting the day at 104.44 (down -0.2%)
This downslide might be related to financial indicators data published earlier as United States Crude Oil Inventories fell short of the 0.127 projections, to -0.754 and continued its downward trajectory from the previous figure of 0.768. United States Initial Jobless Claims fell short of the 730 projections, at 778 and continued its downward trajectory from the previous figure of 748. United States New Home Sales released Wednesday at 3:00 PM is better than expected at 999 but down from preceding data of 1002 according to new data.
At the same time, pound/yen is down 54 pips from the beginning of the session and now trading around 139.75. The Euro/Pound is trading around 0.8918 after starting the session at 0.89 (up 0.19%).
The Dollar/Yen is getting closer and is now only 90 pips from the support line at 103.32. Dipping below it might indicate further losses are ahead. At 104.25, Yen made an initial breakout below the 3 day Simple Moving Average. The lower Bollinger band at 103.27, indicating a positive correction might be next. Overall, looking at all the technical indicators, it seems the dollar/yen might reverse course and start pointing upward in the short term.
The market will keep its eye on the following upcoming macroeconomics indicators: Japan's Tokyo Core CPI (YoY) (Nov) expected to decline to -0.7, while its preceding data was -0.5, data will be available today at 11:30 PM. Japan CPI Tokyo Ex Food and Energy (MoM) (Nov) scheduled to come out today at 11:30 PM.
Yen hovers around 104.46
This limbo state for the Yen is reflected by market data published as United States Crude Oil Inventories published today at 3:30 PM came out at -0.754, falling short of the 0.127 projections and continuing its decline from the previous 0.768 figure. United States Initial Jobless Claims published today at 1:30 PM came out at 778, falling short of the 730 projections and continuing its decline from the previous 748 figure. Data for United States New Home Sales released today at 3:00 PM is better than expected with 999, but worse than the previous figure of 1002.
Meanwhile, mixed performances are seen elsewhere, as the Swiss franc is down 26 pips from the beginning of the session and now trading around 0.9109. EUR/CAD gained 0.23%, currently at 1.5492
The Dollar/Yen approaches the closest resistance line at 105.43 and is now only 96 pips away, Crossing it might suggest further gains are ahead. The upper Bollinger band is at 105.62 and the lower is 103.29. Overall, looking at all the technical indicators, it seems the Yen might be pointing down in the short term.
Data to be released later might clear up some of the fog for the Yen as Japan Tokyo Core CPI (YoY) (Nov) expected to decline to -0.7, while its preceding data was -0.5, data will be available tomorrow at 11:30 PM. Japan CPI Tokyo Ex Food and Energy (MoM) (Nov) will be released tomorrow at 11:30 PM.
Dollar/Yen hovers around 104.43
This limbo state for the Yen is reflected by market data published as United States Consumer Confidence fell short of the 98 projections, with 96.1 and continued its downward trajectory from the previous figure of 101.4. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) beats expectations of 5.1 with new data release of 6.6. This is also a step forward from the previous data of 5.3. The United States Manufacturing PMI beat expectations of 53 with the new data release of 56.7. This is also a step forward from the previous data of 53.4.
Meanwhile, mixed performances are seen elsewhere as Gold is down 32.2 dollars from the beginning of the session and now trading around 1,837.8. The Euro/Pound added 0.19% to its value, now trading at 0.89
The Dollar/Yen eyes resistance at 105.43 and is now only 98 pips away. Crossing it might suggest a continuation of a positive trend. The upper Bollinger band is at 105.61 and the lower is 103.28. Overall, looking at all the technical indicators, it seems the dollar/yen might be pointing down in the short term.
Data to be released later might clear up some of the fog for the Yen as Projections for United States Crude Oil Inventories are set for a continuation of decline of -0.333 while the previous data was 0.768, Data will be released tomorrow at 3:30 PM. United States Initial Jobless Claims projected to outperform last figure with 730, while it previously stood at 742, data will be released tomorrow at 1:30 PM. United States New Home Sales is projected to outperform last figure with 970, while it previously stood at 959, figure will be published tomorrow at 3:00 PM.
Dollar/Yen up 0.66%, trading around 104.51
Meanwhile, United States Manufacturing PMI beat expectations of 53 with new data release of 56.7. This is also a step forward from the previous data of 53.4. Data for the United States Services PMI released today at 2:45 PM came out at 57.7, beating projections of 55 and showing improvement over the preceding figure of 56.9. The United States Composite PMI was released today at 2:45 PM with a figure of 57.9, This is better than the previous number of 56.3.
In the meantime, after starting the session at 1,872.4, Gold lost 37.2 dollars and is trading around 1,835.2. The Pound/Yen gained 0.88%, currently at 139.21
At 104.47, dollar/yen made an initial breakout below the 21 day Simple Moving Average. The Yen is approaching the closest resistance line at 105.43 and is now only 93 pips away, crossing it might suggest further gains are ahead.
The market is looking forward to Japan BoJ Governor Kuroda's speech, expected tomorrow at 12:05 PM. United States Consumer Confidence seems to be pointing downwards with an expected 98 while the preceding figure was 100.9, New data will be released tomorrow at 3:00 PM. United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Sep) expected to decline to five, while its preceding data was 5.2, data will be available tomorrow at 2:00 PM.
