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USD/JPY stabilizes above 98.00

FXstreet.com (New York) – The USD/JPY foreign exchange rate refused to fall back below the 98.00 region, though ultimately unable to shake its negativity thus far during US trading after the latest data release.

In the United States, Personal Spending (July) grew only +0.1%, missing estimates of +0.3%. Moreover, Core Personal Consumption Expenditure – Price Index (YoY) yielded a figure of +1.2% in July, matching expectations.

USD/JPY strategic bias

According to the Technical Analyst Team at ICN.com, “Despite the USD/JPY’s attempt to rise, it is still stable below key resistance levels of the downside move as shown on graph. Trading below the …read more