Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Wall Street Analysts Weigh in on Latest NFP Data 
FxWirePro-Major European Indices 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Stock Futures Dip as Investors Await Key Payrolls Data 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
USD/JPY chart on Trading View used for analysis
- USD/JPY has retarced below 113 handle and is currently trading at 112.98 after hitting session highs at 113.21.
- Data overnight showed US durable goods fell 4.4% in October, the largest drop in 15 months and considerably weaker than the -2.5% forecast.
- Investment had been one of the stronger supports of US economic growth in the first three quarters and sharp drop in Oct is a potent warning regarding the economy's health.
- This report may raise speculation that the Fed may pause in its three year campaign to normalize US interest rates.
- On the other side Japan National CPI clocks in at 1.4% as expected and the Yen was largely muted after data.
- The pair is holding above daily cloud and 5-DMA support, remains in technically bullish territory.
- Price action has been struggling to break past 110-EMA barrier on the 2 hour charts.
- Break above 2H 110-EMA could see upside resumption. On the flipside, break below cloud could see further weakness.
Support levels - 112.997 (cloud top), 112.83 (5-DMA), 112.67 (55-EMA)
Resistance levels - 113.10 (2H 110-EMA), 113.30 (1H 200 SMA), 114
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
