USD/JPY increases volatility due to CPI

Source: Dukascopy Bank SA


The United States Bureau of Labour statistics has just now released the latest Consumer Price Index data. The data reveals how the US inflation has changed during the last month. All data numbers hit the forecasts.

Due to the event the USD/JPY dipped to 129.50, before recovering back up to almost 131.00.

In general, a decline of the pair could once again look for support in the weekly S1 simple pivot point at 129.43 and the 129.50 level. Further below, note that round price levels might slow down a decline.

However, a recovery of the US Dollar is expected to find resistance in the 131.00 level and the 131.30/131.37 range. Above these levels note the combination of the 50, 100 and 200-hour simple moving averages, the 132.00 mark and the weekly simple pivot point at 132.10.
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