USD/JPY is trading near a daily high of 107.78, neutral in the short-term, although with the risk skewing to the upside. The pair would gain bullish momentum on a break above 107.95, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Japan released the preliminary estimate of the May Leading Economic Indicator, which unexpectedly improved to 79.3 from 77.7, better than the 73.2 expected. The Coincident Index, for the same period, however, contracted to 74.6 from 80.1. The country also published Overall Household Spending, down by 16.2% in the year to May.” “In the 4-hour chart, the USD/JPY pair is trading above all of its moving averages, which remain flat, as technical indicators are directionless just above their midlines.” “The pair has an immediate Fibonacci resistance at 107.95, the level to surpass to see it gather additional bullish momentum.” 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 S&P 500 Price Analysis: Faces wall of technical resistance as optimism faces – Confluence Detector FX Street 3 years USD/JPY is trading near a daily high of 107.78, neutral in the short-term, although with the risk skewing to the upside. The pair would gain bullish momentum on a break above 107.95, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Japan released the preliminary estimate of the May Leading Economic Indicator, which unexpectedly improved to 79.3 from 77.7, better than the 73.2 expected. The Coincident Index, for the same period, however, contracted to 74.6 from 80.1. The country also published Overall Household Spending, down by 16.2% in the year to May.” “In the 4-hour chart, the USD/JPY pair is trading… Regulated 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.
