Japans Infaltion Report
Written July 29, 2010 at 7:42 PM EST by Alex Chernomordin
Tokyo and the rest of Japan remain in a deflationary tailspin confirmed monthly by most indicators, this month’s reading was no different as the USD/JPY pair attempts to maintain the 87 handle this session.
- Tokyo CPI (YoY) - Survey:-0.8% Actual:-1.2% Prior:-0.9%
- Tokyo CPI ex food/energy (YoY) - Survey:-1.4% Actual:-1.4% Prior:-1.4%
- National CPI (YoY) - Survey:-0.7% Actual: Prior:-0.9%
- National CPI ex food/energy (YoY) - Survey:-1.1% Actual:-1.0% Prior:-1.2%
On the 4-hour chart we saw the USD/JPY pair trade down to the lower Bollinger Band and instantly find support in NY. Does the pair have another test of the 88 handle in it this week (also the 61.8% retracement?)
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