USDJPY

Inflation in Tokyo’s Consumer Price Index (CPI) rose to 2.2% in May from 1.8% on an annual basis. Tokyo’s May CPI inflation rebounded from a 26-month low of 1.8% in April The USD/JPY pair is trading with gains early in the Pacific market session on Friday, testing the 156.80 level after falling to an intraday low of 156.37. The pair, which closed at 156.73 the previous trading day, lost 0.06% on the day. The RSI indicator for the pair, which is above its 20-day moving average, is at 56.97, while its momentum is at 101.19. Intraday upward movements can be followed at 156.78. If this level is passed, resistance levels of 156.98, 157.23 and 157.43 may become important. In case of possible pullbacks, support levels of 156.53, 156.32 and 156.08 will be monitored. Support: 156.530 - 156.320 Resistance: 156.980 - 157.230