{"id":77197,"date":"2015-08-21T07:00:43","date_gmt":"2015-08-21T11:00:43","guid":{"rendered":"http:\/\/countingpips.com\/?p=77197"},"modified":"2015-08-21T07:40:34","modified_gmt":"2015-08-21T11:40:34","slug":"yen-gains-traction-following-robust-pmi","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/yen-gains-traction-following-robust-pmi\/","title":{"rendered":"Yen Gains Traction Following Robust PMI"},"content":{"rendered":"
August 21, 2015<\/div>
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Article by ForexTime<\/a><\/p>\n

USD\/JPY dropped to a six-week low at 122.81, reflecting the haven draw of the Japanese currency as most other Asian currencies saw news lows against the dollar as turmoil continued in Asia. A drop in China\u2019s Caixin manufacturing PMI to a six-year low of 47.1 in the prelim reading for August, down from a from 47.8 in July, fed concerns about China\u2019s economic prospects. Beijing remained quiet, and equities dove once again, with the Shanghai Composite showing a 4.3% loss in Friday\u2019s trading session. A rise in Japan\u2019s PMI to 51.9 in August from 51.2 had little impact.<\/p>\n

Japanese manufacturing activity expanded in August at the fastest pace in seven months. The Markit\/Nikkei Japan Flash Manufacturing Purchasing Managers Index rose to 51.9 in August from a final 51.2 in July. The index remained above the 50 threshold that separates expansion from contraction for the fourth straight month. The index for new orders rose to a preliminary 53.2 from a final 50.9 in the previous month, also indicating the fastest growth in seven months.<\/p>\n

The USD\/JPY currency pair tumbled through trend line support and is poised to test new support levels at 122.40.\u00a0 Resistance is seen near the 10-day moving average at 124.17.\u00a0 Momentum has turned negative with the MACD (moving average convergence divergence) index generating a sell signal.\u00a0 This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses below the 9-day moving average of the spread.<\/p>\n

\"jpy-082115\"<\/a><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>

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Article by ForexTime USD\/JPY dropped to a six-week low at 122.81, reflecting the haven draw of the Japanese currency as most other Asian currencies saw news lows against the dollar as turmoil continued in Asia. A drop in China\u2019s Caixin manufacturing PMI to a six-year low of 47.1 in the prelim reading for August, down […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77197","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=77197"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77197\/revisions"}],"predecessor-version":[{"id":77199,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77197\/revisions\/77199"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}