November 26, 2019
By IFCMarkets
Rising Japanese SPPI bullish for USDJPY
The Services Producer Price Index in Japan rose 2.1% from a year ago after 0.5% increase in the previous month. Will the USDJPY rise?
The price chart on 1-hour timeframe shows USDJPY: H1 is trading sideways. The price is falling toward the 200-period moving average MA(200) which is rising. And the Stochastic oscillator is at 50 level and has not reached the oversold zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.
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