- USD/JPY attracts some buyers above the mid-149.00s on Tuesday.
- US NY Empire State Manufacturing Index for October fell to 4.6 vs. a 1.9 rise prior, better than expected.
- Japanese Finance Minister denied comment about currency intervention.
- Traders will focus on the US Retail Sales, Industrial Production, and Fed speakers later on Tuesday.
The USD/JPY pair holds positive ground around 149.60 during the early European trading hours on Tuesday. A renewed US Dollar (USD) demand and a recovery in US treasury yields lend some support to the pair. Investors await the US Retail Sales data on Tuesday for fresh impetus. The monthly figure is expected to rise by 0.3% in September.
The dovish comments from the Federal Reserve (Fed) capped the upside of the USD/JPY pair on Tuesday. Chicago Fed President Austan Goolsbee maintained his dovish stance by saying that a fall in US inflation is not a bleep, while Philadelphia Fed President Patrick Harker said that in the absence of some turn in the data, the Fed should hold rates steady. However, traders will take more cues from the Fed speakers on Tuesday, which include Williams, Bowman, Barkin, and Kashkari, which might offer some hints about further monetary policy paths.
About the data, the US NY Empire State Manufacturing Index for October fell to 4.6 from a 1.9 rise in the previous reading, above the market estimation of a 7.0 decline. Last week, the US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and 0.4%, respectively. Both figures exceeded the market expectations.
On the JPY, Japanese Finance Minister Shunichi Suzuki denied to comment on Tuesday’s statements about currency intervention by an International Monetary Fund (IMF) official. Suzuki went on to say that there was no need to go into detail about the factors that would
Looking ahead, market players will keep an eye on the US Retail Sales, Industrial Production, and Fed speakers later on Tuesday. On Wednesday, the Japanese trade data will be released, followed by the National Consumer Price Index (CPI) reports on Friday. These figures could give a clear direction to the USD/JPY pair.
USD/JPY
OVERVIEW |
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Today last price | 149.59 |
Today Daily Change | 0.08 |
Today Daily Change % | 0.05 |
Today daily open | 149.51 |
TRENDS |
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Daily SMA20 | 148.98 |
Daily SMA50 | 147.32 |
Daily SMA100 | 144.32 |
Daily SMA200 | 138.96 |
LEVELS |
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Previous Daily High | 149.76 |
Previous Daily Low | 149.36 |
Previous Weekly High | 149.83 |
Previous Weekly Low | 148.16 |
Previous Monthly High | 149.71 |
Previous Monthly Low | 144.44 |
Daily Fibonacci 38.2% | 149.52 |
Daily Fibonacci 61.8% | 149.61 |
Daily Pivot Point S1 | 149.33 |
Daily Pivot Point S2 | 149.14 |
Daily Pivot Point S3 | 148.93 |
Daily Pivot Point R1 | 149.73 |
Daily Pivot Point R2 | 149.95 |
Daily Pivot Point R3 | 150.13 |