USD/JPY is trading in the positive zone for a second day in a row. On Thursday the pair touched 98.25 before edging a little bit lower.
The current US dollar’s strength is mainly connected with the fact that tensions in Syria have eased a little bit. Barack Obama stated that he had not yet decided on the necessity of a military action against Syria. As a result, the markets start paying more attention to the data releases.
Figures showed tonight that Japan’s July retail sales came much worse than expected (-0.3% vs. June +0.6% and forecasted 0.0%), pushing the yen down. This evening at 23:30 GMT Japan will release important inflation data and household spending (forecast – improvement).
Resistance: 98.25, 98.60, 99.00/15
Support: 98.00, 97.60/45, 97.00/96.90, 96.50
Chart. H1 USD/JPY