USD/JPY: The pair did not take advantage of GDP US higher expectations

© Reuters. USD/JPY-Dollar Yen

The USD/JPY pair seems to be struggling to continue its rise in spite of GDP US higher expectations.

It should be remembered that the GDP for the 1st quarter of 2018 in the USA is displayed above the consensus, up 2.3% against 2% expected and 2.9% in the previous quarter.

In the Face of these figures is satisfactory, the pair USD/JPY has managed to score a new high of 109.53, before retreating under the strength of 109.50.

After several days of consolidation, the GDP of the US exceeds the expectations, therefore, has failed to instil a clear direction on the pair USD/JPY.

The area of 109.50 is always immediate resistance, which protects the psychological level of 110, and the traders do not seem for the moment not inclined to support an increase above this threshold.

Finally, it should be noted that the Dollar is still likely to be influenced by the consumer confidence index US from the University of Michigan, at 16h.

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