USDJPY remains under pressure after 3Q GDP

Blue avatar for guest contributors
By :  ,  Financial Analyst

USD/JPY remains under pressure after 3Q GDP

This morning, Japan's final readings of 3Q annualized GDP were posted at +22.9% on quarter, above +21.4% expected. Household spending increased 1.9% on year in October (vs +2.8% expected).

From a technical point of view, on a daily chart, USD/JPY is capped by a declining trend line and by its declining 50-day moving average (in blue). Readers may therefore consider the potential for further weakness below horizontal resistance at 105.65 as the nearest support would be set at November bottom at 103.10 and a second one would be set at horizontal support at 102.45 in extension.

Source: TradingView, GAIN Capital

Related tags: Forex Forex JPY

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar