30 May 2014
USD/JPY little changed after US data
FXStreet (Córdoba) - The USD/JPY remained indifferent to the latest series of US data, consolidating in a tight range below 101.70.
The USD/JPY barely moved after data showed US personal income rose 0.3% in April, matching expectations, while personal spending dropped 0.1% versus a 0.2% rise expected. The price index was up 1.6% YoY and rose 1.4% excluding food and energy. That is up from a rise of 1.1% in March, but inflation remains well below the Fed's 2% target.
At time of writing, the USD/JPY is trading at 101.62, 0.17% below its opening price from 101.68 pre-data.
“A more decisive increase in US Treasury yields will be required to drive USDJPY higher, but for now the pair appears content to trade in a 101.50/101.90 range”, said the TD Securities team.
USD/JPY technical levels
As for technical levels, next supports are seen at 101.42 (May 29 low), 101.33 (200-day SMA) 101.09 (May 19 low). On the flip side, resistances could be found at 101.85 (May 29 high), and 102.02 (May 28 high).
The USD/JPY barely moved after data showed US personal income rose 0.3% in April, matching expectations, while personal spending dropped 0.1% versus a 0.2% rise expected. The price index was up 1.6% YoY and rose 1.4% excluding food and energy. That is up from a rise of 1.1% in March, but inflation remains well below the Fed's 2% target.
At time of writing, the USD/JPY is trading at 101.62, 0.17% below its opening price from 101.68 pre-data.
“A more decisive increase in US Treasury yields will be required to drive USDJPY higher, but for now the pair appears content to trade in a 101.50/101.90 range”, said the TD Securities team.
USD/JPY technical levels
As for technical levels, next supports are seen at 101.42 (May 29 low), 101.33 (200-day SMA) 101.09 (May 19 low). On the flip side, resistances could be found at 101.85 (May 29 high), and 102.02 (May 28 high).