In Japan, it was published nationwide core consumer price index for April, which has not changed, while the forecasts expected to decline (-0.3% vs. -0.4%).
USD / JPY The pair last week undertook growth attempts. However, strong resistance 110.60 is not allowed a pair to reach new highs. At the end of the week the pair traded in the consolidation range in the area of 109.80, however, to the close of trading, the pair grew up and came close to the level of 110.60. Currently, support is at 109.80 and resistance at 110.60.
On the four-hour chart MACD indicator at zero and does not beep. Histogram at its signal line. RSI oscillator signal line close to the overbought zone.
Forecast USD / JPY
The dollar / yen is likely to continue to rise at the beginning of the new week, continue to receive support in the background speech George. Yellen on Friday. The objectives of the upward movement made a mark 110.60 and 111.40.
Source Fort Financial Services