On Friday, the USD/JPY pair remains in a narrow trading range after a series of sales from August this year.
Sales of the yen have temporarily halted; investors have fixed the USD/JPY pair in a narrow trading range, and took a break. In fact, this is just a break in the chain of sales, the "bull" goal remains at the mark of 110.0 yen, as the previous target of 107.50 was long realized. The more distal marker is 112.50.
Today it was announced that the consumer price index in Tokyo in September rose by 2.6% y/y with the forecast of growth of 2.7% y/y. At the same time a similar national indicator strengthened in August by 3.1% y/y, with the expected growth of 3.2% y/y.
The overall national CPI rose in August by 3.3% y/y.
The data was stable, in line with expectations, and it almost did not support the yen.
In general, the economy of the country of the rising sun remains in a neutral position: it’s too early to talk about a frenetic self-growth, but there are no harbingers of a sharp drop either.
RoboForex Analytical Department