160.059
Today
+0.43%
5 Days
+0.65%
1 Month
-2.24%
6 Months
+2.69%
Year to Date
+2.15%
1 Year
+8.62%
Opening Price
159.379Previous Closing Price
159.379Japan delivered the inflation and labour data the Bank of Japan needs to move next month and the Japanese Yen is weaker for a fifth consecutive session.
USD/JPY rises 0.14% on Friday and trades around 159.60 at the time of writing, extending its advance for a fifth consecutive day.
The Japanese Yen (JPY) is holding within a narrow trading range against the US Dollar (USD) at around 159.35, but pressures are rising following an acceleration in Tokyo inflation data.
Nordea’s Helge J. Pedersen argues that the Japanese Yen appears significantly undervalued versus the Dollar on both OECD purchasing power parity estimates and The Economist’s Big Mac Index.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/JPY held in a narrow band around 159.35, with a slight uptick in upward momentum. They expect this to translate into trading between 159.15 and 159.65 rather than a sustained advance.
The Japanese Yen (JPY) edges lower for the fifth consecutive day against the US Dollar (USD) on Friday, despite hot Tokyo inflation numbers and an unexpected decline in the Unemployment Rate earlier in the day.
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The configuration is positive.
below 159.57, expect 159.23 and 159.03.
The upside prevails as long as 159.57 is support, with 160.39 and 160.59 as targets
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