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Forex - USD/JPY down on economic data

Published 08/25/2011, 07:45 PM
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USD/JPY
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Investing.com - The U.S. Dollar was lower against the Japanese Yen on Thursday after the release of Japanese data on Tokyo Core CPI.

USD/JPY was trading at 77.37, down 0.13% at time of writing.

The pair was likely to find support at 76.47, Tuesday’s low, and resistance at 77.70, today’s high.

Earlier in the day, official data showed that Tokyo’s core consumer price inflation fell more-than-expected to at annualized rate of -0.2% last month from 0.4% in the preceding month.

Analysts had expected Tokyo’s core CPI to fall to -0.1% last month.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.03% to hit 1.4383 and GBP/USD rising 0.06% to hit 1.6289.

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