HomeContributorsFundamental AnalysisJapan's National Consumer Price Index Advanced As Estimated In April

Japan’s National Consumer Price Index Advanced As Estimated In April

For the 24 hours to 23:00 GMT, the USD declined 0.68% against the JPY and closed at 109.54.

In economic news, Japan’s final machine tool orders sank 33.4% on an annual basis in April, confirming the preliminary print and following a drop of 28.5% in the prior month.

In the Asian session, at GMT0300, the pair is trading at 109.60, with the USD trading 0.05% higher against the JPY from yesterday’s close.

Overnight data indicated that the national consumer price index (CPI) climbed 0.9% on a yearly basis in April, in line with market expectations. In the prior month, the CPI had recorded a rise of 0.5%.

The pair is expected to find support at 109.25, and a fall through could take it to the next support level of 108.91. The pair is expected to find its first resistance at 110.15, and a rise through could take it to the next resistance level of 110.71.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

GCI Financial
GCI Financialhttp://www.gcitrading.com/
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