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The Japanese currency is weakening against the USD for a long time. As a result last week the USD/JPY pair reached the 8 weeks minima and consolidated above the level of 114.00. The weak USA data, published on Friday, such as Consumer Price Index (was 2.2%, which is lower than expected) and Retail Sales Index (also lower than expected a t the level of 0.4%), caused the lowering of the USD against all the main competitors. As a result the pair lowered to 113.15, and the level of 114.00 became the strong resistance again. There is now significant news from Japan today. The major fundamental release is in the end of the week: Japan March Industrial production data (expected to lower by will by 2.1%) and Japan 1 quarter GDP (the growth by 0.4% is possible) will be published.
The Japanese currency is weakening against the USD for a long time. As a result last week the USD/JPY pair reached the 8 weeks minima and consolidated above the level of 114.00. The weak USA data, published on Friday, such as Consumer Price Index (was 2.2%, which is lower than expected) and Retail Sales Index (also lower than expected a t the level of 0.4%), caused the lowering of the USD against all the main competitors. As a result the pair lowered to 113.15, and the level of 114.00 became the strong resistance again. There is now significant news from Japan today. The major fundamental release is in the end of the week: Japan March Industrial production data (expected to lower by will by 2.1%) and Japan 1 quarter GDP (the growth by 0.4% is possible) will be published.
