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USD/JPY frozen near 111.90 ahead of US housing data


Friday, 19 April 2019 16:33 WIB

USD/JPY,


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The USDJPY pair extends its side-tend into the European session, wavering back and forth in a 10-pips extremely narrow range just below the 112 handle.

A tug of war between the bulls and bears continue tor the sixth straight session, despite some volatility witnessed on Thursday after the Yen hit fresh weekly tops at 111.76 against its American peer following the disappointing German and Eurozone PMIs induced broad risk-aversion.

The spot pulled back sharply from the weekly trough and reverted to the familiar ranges near the 112 level following upbeat US retail sales data release the lifted the US stocks alongside the greenback across its main competitors.

On the JPY-side of the equation, a minor uptick in the Japanese CPI figures combined with the Bank of Japan’s (BOJ) decision to cut the purchases of the long duration JGBs failed to move a needle on the USD/JPY pair.

Source: FXstreet


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