USD/JPY not showing much response to the data, straddling 145<p>The data on wages and spending are here:</p><ul><li><a href="https://www.forexlive.com/news/japan-data-august-labor-cash-earnings-17-yy-expected-25-20221006/" target="_blank" data-article-link="true">Japan data - August Labor Cash earnings 1.7% y/y (expected 2.5%)</a></li><li><a href="https://www.forexlive.com/news/japan-data-august-overall-household-spending-51-yy-expected-67-20221006/" target="_blank" data-article-link="true">Japan data - August Overall Household Spending +5.1% y/y (expected 6.7%)</a></li></ul><p>Both are disappointing. </p><p>--</p><p>Meanwhile USD/JPY popped 145 overnight but has slipped back just a little in morning trade here. Above 145.70 was where we had Japanese authorities intervene to support the yen a couple of weeks ago. Markets have been timid of 145 since. But, a retest of the earlier highs seems inevitable. On the daily chart we ain't even that far away!</p>
This article was written by Eamonn Sheridan at forexlive.com.
Source: USD/JPY not showing much response to the data, straddling 145 (https://forexlive.com/news/usdjpy-not-showing-much-response-to-the-data-straddling-451-20221006/https://forexlive.com/news/usdjpy-not-showing-much-response-to-the-data-straddling-451-20221006/)
forexlive.com