Equity World – Japanese currency in early trade on Wednesday (28/12), the Japanese government launched economic data for the development of retail sales and also prelim industrial production of the country.
These data show mixed results so that the movement of the USDJPY pair is still able to continue rallynya.
Yen the previous trading hit by poor economic data reported to the Cabinet Office of Japan
and also the strong sentiment of the release of US economic data on consumer confidence in the US state.
This time the yen was not given the chance to take a deep breath of relief that pushed back towards the worst position for the currency of the country.
Equity World | Exchange Yen plunges Poor Economic Data Due
Japan’s Cabinet Office this morning reported the country’s industrial production lower than expected increase,
but higher than the previous period. And for retail sales increased from the previous period experienced contraction,
also increased expectations of an increase.
For the next movement until the evening session, the USDJPY pair can go back receiving the positive sentiment
of the release of pending home sales data is expected to show an increase in bookings growth of existing homes in the US state.
But if the result gives a disappointment then the power pair can be trimmed.
Yen exchange rate movements of the Asian session (02:20:35 GMT) weakened against the US dollar, USDJPY opened lower at 117.42 in early trading (0000 GMT) moving strongly and is now rolling at 117.67 value pair.
For the movement of the pair until the end of the evening session trading has the potential to rise,
so the analyst Vibiz Research Center estimates USDJPY pair will then go up to the range 118.15 to 118.30. But if there is a correction going down again towards the range 117.07-116.56.
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