For three trading sessions in a row, the bulls are settling in the price of the USD/JPY currency pair around the resistance level at 125.75 highest in six years
Enter your emailFor three trading sessions in a row, the bulls are settling in the price of the USD/JPY currency pair around the resistance level at 125.75, the highest in six years. Despite the announcement of strong US inflation numbers that support the policy of the US Federal Reserve, the price of the currency pair remained stable in its last range.
Core CPI inflation grew 8.5% in March, beating expectations of 8.4% and the previous month's 7.9%. The reaction of the forex market indicates that investors have certainly focused more on the core inflation component, given that the headline figure is heavily influenced by global energy prices. Prices of goods outside of energy and food fell 0.4%. Analysts are of the view that whether the inflation rate has peaked in March depends above all on the further development of oil and gasoline prices.
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