Global macro overview for 28/12/2015:
The Japanese inflation data released overnight showed the core consumer prices climbed for the first time in five months in November. Japan's industrial production however decreased for the first time in three months in November, as exports declined more than analysts had expected. The industrial output was reported at the level of -1.0% vs. -0.4% expected, but it was still 1.6% higher than a year before. Amid the latest reports we can suspect that BoJ Governor Haruhiko Kuroda may start additional stimulus measures as early as the next month.
The USD/JPY pair is just bouncing off the important technical support at the level of 120.35. The next resistance is seen at the level of 121.37.
