USD/JPY closes the week under pressure
Here may be a snapshot of todays action and what levels to observe out for.
It was a comparatively quiet U.S. trading session within the Forex market on Friday.
The US Dollar was mixed against all of its major pairs on Friday.
On the economic data front, the Producer price level Final Demand unexpectedly fell 0.2% on month in June (+0.4% expected), from +0.4% in May.
On Monday, the Monthly Federal deficit for June is predicted to be released.
The Euro was bullish against most of its major pairs with the exception of the JPY. In Europe, there was no major economic data released.
The Australian dollar was bearish against all of its major pairs.
Regarding FX movers,
EUR/USD gained 14 pips to 1.1299.
GBP/USD rose 18 pips to 1.2624.
USD/JPY fell 26 pips to 106.94.
USD/CHF gained 12 pips to 0.9413.
AUD/USD declined 18 pips to 0.6946.
USD/CAD jumped 11 pips to 1.3597.
Looking at today's largest mover, the USD/JPY may need started a replacement downtrend capped by a declining trendline after prices broke below a consolidation zone. If 107.10 can hold as key resistance we may even see further pressure right down to retest 106.65 support. an opportunity above 107.10 would involve a rebound towards 107.36 resistance.
Have an excellent weekend.
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