USDJPY – Possible Downside Thrust Underway Before Higher

Talking Points

  • US Dollar rocketed higher against the Japanese Yen, and traded close to 8-year highs.
  • USDJPY found resistance around the $124.50 resistance area, which ignited a downside reaction.
  • Japanese National Consumer Price Index was released by the Statistics Bureau yesterday evening, which posted an increase of 0.6%, lower compared with the last 2.3%.
  • Japanese Industrial Production released by the Ministry of Economy, Trade and Industry increased by 1% in May 2015, compared with the preceding month.

Key Highlights:

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