Dismal Japanese data keeps hurting the yen as Mach Industrial Production plunged. USD/JPY is neutral-to-bullish in the short-term and needs to hold above 107.30, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “Japan released March Industrial Production, which fell by 3.7% MoM and by 5.2% when compared to a year earlier, meeting the market’s expectations. Capacity Utilization in the same month contracted 3.6% worse than anticipated.” “The USD/JPY pair is trading around a flat 200 SMA in its 4-hour chart, while the 20 SMA gains bullish strength below the current level. Technical indicators, however, lack directional strength within positive levels.” “USD/JPY would need to hold above 107.30, the immediate support, and accelerate through the 107.70 region to become more attractive for bulls.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY: Above 117.77/83 would mark an important base – Credit Suisse FX Street 2 years Dismal Japanese data keeps hurting the yen as Mach Industrial Production plunged. USD/JPY is neutral-to-bullish in the short-term and needs to hold above 107.30, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “Japan released March Industrial Production, which fell by 3.7% MoM and by 5.2% when compared to a year earlier, meeting the market’s expectations. Capacity Utilization in the same month contracted 3.6% worse than anticipated.” “The USD/JPY pair is trading around a flat 200 SMA in its 4-hour chart, while the 20 SMA gains bullish strength below the current level. Technical indicators, however, lack directional strength within positive levels.”… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
