US Dollar is being traded near four and half year highs against Yen in expectation of the US data

Written by Michael Fisher

Michael Fisher is an active trader and market analyst. He holds a Bachelors degree in Economics from University of Pennsylvania and started his career as a private Forex trader back in 2005.

, | Updated: October 30, 2024

During the trading session today USD/JPY cross rose to 4 and half year high, as investors lie in wait for the crucial data from United States, regarding Producer Price Index, Core Producer Price Index, Industrial Production and Treasury International Capital Flows, due to come out today. Alongside these expectations, speculations have appeared about Federal Reserve Banks decision to end the stimulus program earlier than expected.

USD/JPY reached 102.61 during European session, then consolidation of the pair followed at 102.49.

The resistance levels for this cross were met at todays session high, 102.61, while the support level was expected at 101.26, which was Tuesdays low.

Earlier today Japanese Tertiary Industry Activity Index dropped by 1.3% monthly, surpassing the estimated value (-0.7% decrease). It was reported, that previous month (February) Japans business activity in the services sector expanded by the rate of 1.2%.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

USD/SEK trades near 6-week high ahead of Riksbank decision The USD/SEK currency pair traded in proximity to recent six-week peak on Tuesday ahead of a rate decision by Sweden's Riksbank, while investors were also eyeing Friday’s report on US PCE inflation that could affect Fed rate cut […]
Walmart Stock Gains Focus After Texas Store Expansion Key Moments Walmart (NYSE:WMT) highlighted plans to remodel 72 Texas stores in 2026 as part of a wider modernization program. The retailer is remodeling more than 650 Supercenters and Neighborhood Markets nationwide this year […]
Copper Rally Intensifies as LME Supply Squeeze Tightens Key Moments LME three-month copper has traded above $14,000/t, moving close to record levels as nearby market conditions tighten. Tom-next and cash/3m spreads have surged to premiums of $75/t and $545/t, respectively, […]
Companies see Trans-Atlantic Trade pact as a rule bypass Some companies see trade talks between US and Europe as an opportunity to eliminate unfavorable rules which is a rare second chance to achieve on a global scale what theyve been unable to win from individual governments. That has safety and […]
Forex Market: GBP/NZD daily forecast During yesterday’s trading session GBP/NZD traded within the range of 1.9760-1.9897 and closed at 1.9846.At 6:45 GMT today GBP/NZD was gaining 0.02% for the day to trade at 1.9870. The pair touched a daily high at 1.9895 at 6:15 […]
US stock index futures retreated before US durable goods data U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index will continue to decline for a third consecutive day, as investors focused their attention towards economic reports to help assess when the Federal Reserve will […]

Related News