Bullish momentum returned to USD JPY on Wednesday September 25th when investors realized that an impeachment for US President D. Trump is highly unlikely.
Today we are seeing another month of decline in Tokyo Core CPI, reported at worse than expected 0.5%, vs 0.6% forecasted and the previous fact 0.7%.
On Monday we’ll want to pay attention in the morning to Japan’s Industrial Production ND Retail Sales at 2:50 am GMT+3 and US Chicago PMI at 16:45 (4:45pm) GMT+3.
On a 4HTF, we have a local trend line up. TK Golden Cross and both Mas are pointing up. Parabolic is pointing up and the price has opened and closed above the cloud.
Once we break this resistance (108.125) our next target up is around resistance at 108.262, following that September high in the vicinity of 108.477, then 108.709 ahead of 108.892.