Core U.S. retail sales rose 0.4%, missing the 0.1% decline forecast
Total U.S. retail sales remained flat in July, though a 0.1% increase was forecasted.
EIA crude oil inventories fell by 7.1 million barrels.
According to FOMC minutes, rates should reach and remain at a “fairly restrictive” level.
According to the FOMC minutes, production is down, spending is also showing a decline, but jobs are rising.
Inflation continues to remain high.
The USD/JPY rose sharply against the fluctuations in the U.S. stocks, broke through the 50 EMA and crossed over the psychological resistance level of 135.00.
At the time of writing, the pair is trading at 135.884, which is above the opening price.
USD/JPY 1-d chart Source: TradingView
The USD/JPY price is set for an uptrend, with the 50-day EMA recovered by the buyers at 135.40. At the same time the Relative Strength Index (RSI) has almost reached the 60 mark, with plenty of room to spare, anticipating an upcoming assault at 136.00 and above.
The first resistance zone is at 136.00. The next resistance level is around 137.00.
Possible support potential for pullbacks is at 133.90.
There is a tendency to short-term increase on the 4-hour chart. The 200-EMA barrier has been broken by the buyers at 135.50 and the closing price remains at the daily highs of 135.89.
Some experts think that after it overcomes the resistance level of 136.00, there are no barriers to 137.46. Others talk about the next resistance level at 137.00.
Recall that on Wednesday the buyers prevailed, and the pair USD/JPY overcame the descending resistance line of a month ago.
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