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Aug 16 - 09:55 PM

USD/JPY - Modest Reaction To GDP Miss, As 107.00 Caps

By Andrew M Spencer  —  Aug 16 - 08:05 PM
  • Flat at the 106.60 NY close, after touching 106.70 early

  • GDP missed, showing a record 27.8% contraction nT9N2E2027

  • Modest impact, as always with Japanese data, but very weak numbers

  • 107.02, 50% of June-July fall capped last week - strong resistance

  • Sustained 107.10 break would target falling 107.66 cloud base

  • NY 106.43 low then 106.17 Tenkan line are initial supports

  • Horizontal Tenkan and Kijun lines support further consolidation

For more click on FXBUZ


jpy aug 17 Click here

Source:
Refinitiv IFR Research/Market Commentary

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