Weaker JPY after Tankan Index

feature image
This morning, official data showed that Japan's November Tankan Index stood at -13 in November, above -28 expected and -26 the previous month.

From a technical point of view, on a 30-min chart, USD/JPY is rebounding and stands above its 50-period moving average (in blue). Readers may therefore consider the potential for further advance above horizontal support at 103.15 as the nearest resistance would be set at horizontal resistance at 103.60 and a second one would be set at 103.80 in extension.

Source: TradingView, GAIN Capital


Related tags: forex forex jpy

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Sign up for our interactive livestreams

Our interactive livestreams, led by our industry experts, come highly recommended and can help provide your trading with the edge it needs.
Economic Calendar