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USD/JPY back below 109.00 after US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    USD/JPY briefly rose back above the 109 mark but resumed the slide following the release of the latest string of US data.

    US industrial production decreased a seasonally adjusted 0.6% in March (-0.1% expected), posting the sixth decline over the past seven months. Meanwhile, capacity utilization, a measure of industrial slack, dropped to 74.8% in March, versus 75.4% expected.

    USD/JPY has been on the retreat on Friday following three days of gains. At time of writing, the pair was trading at 108.95, down 0.36% on the day, having set a daily low of 108.78.

    USD/JPY levels to watch

    In terms of technical levels, next supports are seen at 108.50 (Apr 13 low) and 107.86 (Apr 12 low) ahead of 107.62 /2016 low, Apr 11). On the flip side, resistances line up at 109.72 (Apr 15 high), 109.89 (Apr 7 high) and 110.63 (Apr 6 high).
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