2 Feb 2015
USD/JPY little changed after US data
FXStreet (Córdoba) - USD/JPY edged a few pips lower, but remained well within its daily range following the latest string of US data.
US data showed personal spending dropped by 0.3% in December, posting the largest fall since 2009 and missing expectations of a 0.2% decrease. Meanwhile, personal income rose by 0.3% in the same period, above the 0.2% increase expected. PCE price index fell by 0.2% in December and the core index, which excludes food and energy, was flat.
USD/JPY slid a few pips and hit an hourly low of 117.55 from 117.65 pre-data. At time of writing, the pair is trading at 117.60, 0.54% above its opening price. Investors seem unwilling to take big positions ahead of the US nonfarm payrolls report, which will be released on Friday.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 117.86 (daily high), 118.10 (21-day SMA) and 118.65 (Jan 27 high). On the flip side, supports are seen at 116.95 (daily low), 116.06 (Jan 14 low) and 115.84 (Jan 16 low).
US data showed personal spending dropped by 0.3% in December, posting the largest fall since 2009 and missing expectations of a 0.2% decrease. Meanwhile, personal income rose by 0.3% in the same period, above the 0.2% increase expected. PCE price index fell by 0.2% in December and the core index, which excludes food and energy, was flat.
USD/JPY slid a few pips and hit an hourly low of 117.55 from 117.65 pre-data. At time of writing, the pair is trading at 117.60, 0.54% above its opening price. Investors seem unwilling to take big positions ahead of the US nonfarm payrolls report, which will be released on Friday.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 117.86 (daily high), 118.10 (21-day SMA) and 118.65 (Jan 27 high). On the flip side, supports are seen at 116.95 (daily low), 116.06 (Jan 14 low) and 115.84 (Jan 16 low).