- Tokyo Core CPI y/y
- USD/JPY testing resistance
- World Economic Forum Annual Meetings Day 3
Price Movement
Since yesterday, USD/JPY has been moving up for around 25pips.
Trend
USD/JPY is trending upwards.
Macro Background
Core CPI measures the change in the price of goods and services purchased by consumers (excluding fresh food).
Although Tokyo Core CPI y/y was released at higher than expected (1.1% vs. 0.9%), the market did not take it positively as the CPI data is still far from the 2.0% target.
Important Issue
Day 3 of the World Economic Forum annual meeting. Comments made by highly influential figures may cause market volatility.
Technical
Currently, USD/JPY is testing the resistance level of 109.756.
Price Levels
Current Price: 109.744
Next Resistance: 109.756
Next Support: 108.734