USD/JPY trades at 159.359 after gaining 41 pips from Monday's open, with Tokyo inflation data and US GDP the key tests ahead.
USDTRY opened Monday at 45.52235 and closed Friday at 45.71656, gaining 194 pips or 0.4 percent. The pair traded a tight range near mid-45s with Thursday's high at 45.75413 marking the weekly peak.
The biggest risk event lands Thursday: US Core PCE Price Index at 12:30 GMT with consensus expecting 0.3 percent month-on-month. This is the Fed's preferred inflation gauge and any deviation from forecast typically moves the dollar sharply across all pairs.
Monday brings widespread bank holidays across Europe, UK, and US markets which will thin liquidity. Wednesday features Australian CPI data and New Zealand's rate decision at 2.25 percent. Thursday also delivers US preliminary GDP at 2.1 percent forecast versus 0.7 percent prior.
If Core PCE prints above 0.3 percent, expect dollar strength to push USDTRY toward the 45.75 resistance from last week. A softer reading below 0.3 percent could see the pair test support near 45.50.
The RBNZ decision Wednesday carries secondary importance. If they signal further easing ahead, risk currencies including TRY could see pressure. Bank holidays Monday mean any gap moves could persist through European morning.
Last week's high at 45.75413 stands as immediate resistance, with 45.80 the next obvious round number above. Support sits at the 45.50 area near Monday's open, then 45.47261 which marked Wednesday's low. These are reference levels for context, not entry signals.
Byline: LHFX Research
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EUR/USD sits at 1.16379 after grinding sideways for three days, with positioning nearly balanced at 51.6% long.
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