Hello everyone !
Last Friday (September 15th, the spot price was 147.30), we observed that "the downward pressure on prices is easing and the potential for further decline in USDJPY has decreased." In NY trading, USDJPY rose above our "strong resistance" level at 147.80 (with a high of 147.96). The downside momentum weakened while the upside momentum increased slightly. From here, as long as USDJPY remains above 146.85, it could rise further to around 148.40. However, at this stage, the likelihood of sustaining prices at this level is not high.
Last Friday (September 15th, the spot price was 147.30), we observed that "the downward pressure on prices is easing and the potential for further decline in USDJPY has decreased." In NY trading, USDJPY rose above our "strong resistance" level at 147.80 (with a high of 147.96). The downside momentum weakened while the upside momentum increased slightly. From here, as long as USDJPY remains above 146.85, it could rise further to around 148.40. However, at this stage, the likelihood of sustaining prices at this level is not high.
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On Thursday, Japan’s Machinery Orders fell 13% in July versus -5.8% prior On a monthly basis, the figure dropped 1.1% from a 2.7% rise in June.
