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3 Aug 2015
USD/JPY keeps highs post-US PCE
FXStreet (Edinburgh) - The dollar kept the composure vs. its Japanese peer on Monday, with USD/JPY meandering session peaks near 124.30.
USD/JPUY indifferent after data
The pair remained in the upper end of the daily range after US Personal Income rose above estimates 0.4% on a monthly basis in June, while Personal Spending expanded at a monthly pace of 0.2%, matching forecasts. Further data showed inflation figures tracked by the Core PCE advanced at an annual pace of 1.3% vs. ½% initially estimated.
While the pair remains around 124.30, or session highs, the US manufacturing sector will remain in the limelight, as Markit’s PMI and the more relevant ISM indicator are due next.
USD/JPY levels to consider
The pair is now advancing 0.28% at 124.25 and a breakout of 124.37 (high Jul.31) would open the door to 124.58 (high Jul.30) and then 124.82 (high Jun.2). On the flip side, the initial support aligns at 123.86 (low Aug.3) followed by 123.40 (low Jul.29) and finally 123.01 (low Jul.27).
USD/JPUY indifferent after data
The pair remained in the upper end of the daily range after US Personal Income rose above estimates 0.4% on a monthly basis in June, while Personal Spending expanded at a monthly pace of 0.2%, matching forecasts. Further data showed inflation figures tracked by the Core PCE advanced at an annual pace of 1.3% vs. ½% initially estimated.
While the pair remains around 124.30, or session highs, the US manufacturing sector will remain in the limelight, as Markit’s PMI and the more relevant ISM indicator are due next.
USD/JPY levels to consider
The pair is now advancing 0.28% at 124.25 and a breakout of 124.37 (high Jul.31) would open the door to 124.58 (high Jul.30) and then 124.82 (high Jun.2). On the flip side, the initial support aligns at 123.86 (low Aug.3) followed by 123.40 (low Jul.29) and finally 123.01 (low Jul.27).