USD/JPY Keeps 109.00 on US CPI
manages well to keep the trade above the 109.00 handle today following
the softer-than-expected US inflation figures during March.
USD/JPY trims gains post-data
The pair has eroded earlier gains after US inflation figures tracked by the CPI have come in below expectations for the last month. In fact, headline consumer prices have risen 0.1% MoM and 0.9% YoY vs. forecasts at 0.2% and 1.1%, respectively.
Core prices have followed suit, advancing at a monthly pace of 0.1% vs. 0.2% expected and 2.2% vs. 2.3% initially estimated.
Further data saw Initial Claims matching post-recession low at 253K during the week ended in on April 8, taking the 4-Week Average to 265K from 266K.
USD/JPY levels to watch
As of writing the pair is gaining 0.01% at 109.35 and a break above 109.54 (high Apr.14) would target 111.01 (20-day sma) en route to 113.12 (55-day sma). On the flip side, the next support lines up at 107.65 (2016 low Apr.12) followed by 105.18 (monthly low Oct.2014) and then 100.74 (monthly low Feb.4 2014).