USD/JPY needs some help from US data this afternoon

As mentioned earlier this morning, there is a whole plethora of US economic data due out this afternoon. First up is the final reading of US Q3 GDP, expected unrevised at 2.8% annualised. The final reading of Q3 personal consumption and price index is also out and the price index is also forecast to remain unchanged, at 1.8% and 2.2% for the core price rate. Anything different on those will cause a reaction. We also have the latest weekly claims data (expected 215k) and durable goods orders for October out then. However, the most important release of the day is probably the 3pm GMT October PCE report. That is expected to deliver a rise in the core annualised price index, to 2.8%, from 2.7%. Well, right now the USD/JPY could certainly do with that beating estimates, because it has fallen further below its 200 day moving average (152.00) today. That has come as US treasury yields continue to leak lower. This has forced the USD/JPY down to a low so far at 151.23. As usual the USD/JPY will probably take a lead, when it comes to any reaction to the US data releases this afternoon. It is currently trading at 151.44