US Dollar lifted from lows against Japanese Yen

Written by Brian McColl

Brian McColl is a fundamental and technical analysis expert and mentor. Brian has been a part of the Forex and stock markets for more than ten years as a freelancing trader.

, | Updated: October 30, 2024

In expectation of Thursday US data, the dollar increased its value versus the Yen. USD/JPY jumped off levels around 101.97 and reached the 102.35-44 zone during the course of trade.

The pair was expected to find resistance at 102.75, highest value from Wednesday, while the support levels were at 101.50, lowest value from Monday.

Positive signals were transmitted from Japan, as official data showed that economy expanded by rate of 0.9% during Q1, surpassing estimated value for 0.7% growth and in annual terms the economic rise was by 3.5%.

Yesterday US Dollar retreated against the Yen, after the disappointing data, regarding US industrial activity, as the indicator dropped by 0.5% during April, mismatching forecasts for only 0.2% decrease.

Markets lie in wait for another set of vital US data, regarding Jobless Claims, Housing Starts, Building Permits, Consumer Price Index (CPI) and Core Consumer Price Index (CPI).

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