The results of Tankan Manufacturing Index increased under the expectations in the third quarter of this year. On the other hand, In Japan Manufacturing PMI data was identified as 50.4 for the month of September, but at the last days of September, the losses are seen on the parity. Generally, we can observe there was a congestion between 101.00 and 101.70 zone. These days, the market is following 101.40 and 101.45 levels. If there may be observed some upward direction movements on the USD/JPY market, 101.70 resistance level will be more important. 102.00 and 102.50 levels may be observed on this resistance level. As the result of breakage of their support for contrast 101.00 level, 100.70 and 100.00 levels. According to data released in Japan today, the National Consumer Price Index (CPI) fell to 0.5 in the month of August compared to the same month last year. On a core basis, the CPI dropped by 0,5% and failed to meet the expectations. The Bank of Japan (BoJ) the monetary expansion implemented by a record of size, despite the improvement in implanted in inflation in the coming period, the bank can push to adopt additional measures.
Technical Side of USD / JPY Market
In technical terms, the pair continues to be important for the continuation of the rise in the level of 101,00 while on the path to recovery can be seen in the pair if the 101,90 level exceeds.
- Date: 13 October 2016 Thu 22:16
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