Japan's industrial production under pressure, JPY remains strong

Japanese Flag
In Japan, Official data showed that Japan's industrial production grew 1.0% on month in August, below +1.7% expected and much below +8.7% in July. August Capacity Utilization stood at only 2.9%, vs 8.0% expected.

From a technical point of view, on a daily chart, USD/JPY is capped by a declining trend line and by its declining 50-day moving average (in blue). Readers may therefore consider the potential for further weakness below horizontal resistance at 106.90 as the nearest support would be set at October bottom at 104.80 and a second one would be set at September low at 104.00 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.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Economic Calendar