Fri, Jul 30, 2021 @ 01:19 GMT
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Japan’s Producer Price Index Rose In July

For the 24 hours to 23:00 GMT, the USD rose 0.35% against the JPY and closed at 106.86.

In the Asian session, at GMT0300, the pair is trading at 106.70, with the USD trading 0.15% lower against the JPY from yesterday’s close.

Overnight data showed that Japan’s producer price index rose 0.6% on a monthly basis in July, more than market expectations for a rise of 0.3% and compared to a similar rise in the earlier month.

The pair is expected to find support at 106.53, and a fall through could take it to the next support level of 106.36. The pair is expected to find its first resistance at 106.94, and a rise through could take it to the next resistance level of 107.18.

Amid a lack of macroeconomic releases in Japan today, investor sentiment would be determined by global macroeconomic factors.

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

GCI Financial
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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