US Dollar Index advances to weekly highs above 94. Annual core-PPI in the U.S. rises to 2.8% in June. The USD/JPY pair is staging a robust rally in the NA session despite the weak risk appetite, which generally increases the demand for traditional safe-havens such as the JPY. As of writing, the pair was trading a couple of pips below 112, where it refreshed its highest level since January, and was up 0.9%, or around 100 pips on the day. Today’s data from the United States showed that the core-PPI jumped to 2.8% on a yearly basis in June from 2.4% in May and surpassed the market expectation of 2.6%. It seems like this data triggered a broad-based USD buying as investors started pricing the expectations of a strong CPI reading tomorrow. Experts estimate the annual core-CPI to edge higher to 2.3% in June from 2.2% in May. After failing to make a decisive advance about the 94 mark in the past two days, the US Dollar Index gained traction and rose to a fresh weekly high at 94.46. At the moment, the index is up 0.6% on the day at 94.40. Meanwhile, major equity indexes in the United States started the day on a weak note with the Dow Jones Industrial Average and the S&P 500 both losing around 0.75% as of writing. Moreover, reflecting the negative sentiment, the 10-year T-bond yield is down 0.65% on the day. A pause in the DXY’s rally could trigger a correction in the USD/JPY pair if the risk-off mood starts to dominate the price action. Technical levels to consider With a daily close above 112 (psychological level), the pair could extend its upside toward 112.75 (Jan. 10 high) and 113.40 (Jan. 8 high). On the downside, supports align at 110.50 (20-DMA), 110 (psychological level) and 109.50 (200-DMA). Meanwhile, the RSI indicator on the daily chart recently touched the 70 mark, suggesting that there could be a technical correction before the next leg up. 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 AUD/USD Review: bears fully back in charge into descending channel FX Street 4 years US Dollar Index advances to weekly highs above 94. Annual core-PPI in the U.S. rises to 2.8% in June. The USD/JPY pair is staging a robust rally in the NA session despite the weak risk appetite, which generally increases the demand for traditional safe-havens such as the JPY. As of writing, the pair was trading a couple of pips below 112, where it refreshed its highest level since January, and was up 0.9%, or around 100 pips on the day. Today's data from the United States showed that the core-PPI jumped to 2.8% on a yearly basis in June… 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.