- USD/JPY trades near 111.40 during initial Friday.
- In spite of clearing the 200-day simple moving average (SMA) on Thursday, the pair refrained from extending its upside as 100-day SMA and positive data from Japan caps the pair’s immediate advances.
- The Tokyo Consumer Price Index (CPI) ex Fresh Food (YoY), a preferred inflation gauge for the Bank of Japan, grew more than 1.0% market consensus to 1.1% in February.
- Also, Tokyo CPI increased 0.6% on a yearly basis in February from 0.4% market consensus and prior.
- The pair needs to surpass 111.40 in order to aim for 111.60, 111.80 and 112.00 consecutive resistances.
- During the pair’s extended rise past-112.00, 112.20 and 112.80 may gain buyers’ attention.
- Alternatively, pair’s slip under 200-day SMA level of 111.30 may recall 110.90 and 110.50 support levels on the chart.
- Moreover, pair’s extended declines past-110.50 could be confined by the 50-day SMA level of 109.80 and two-month-old ascending support-line of 109.65.
USD/JPY daily chart
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