The US Dollar clocks gains versus the Japanese Yen in early trading during the North American session.
USD/JPY rises propelled by strong US retail data strengthening the Dollar against the Yen. US housing indicators falter as Building Permits and Housing Starts underperform, hinting at a construction sector slowdown. US Industrial Production remains stable, underlining a mixed yet resilient economic backdrop. Japan's Finance Minister Suzuki stresses vigilant Forex market monitoring.
USD/JPY Price Analysis: Technical outlook The major remains upward biased, and with no clear signs of intervention, USD/JPY buyers might drive the exchange rate to challenge 155.00. Once cleared, the next stop would be 155.78, followed by the latest cycle high at 160.32. On the flip side, if the pair drops below 154.00, that could open the door for a pullback to April’s 12 high turned support at 153.38 before dropping to 153.00.
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