1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD/JPY back to 109.00 on poor US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    The upside in the greenback lost some momentum following US data, with USD/JPY returning to the 109.00 neighbourhood.

    USD/JPY down from 109.40

    The pair has faded the spike to fresh 4-day highs near 109.40 in response to disappointing results from today’s US calendar. In fact, Retail Sales have contracted at a monthly pace of 0.3% during March, more than initially forecasted; Core Sales have followed suit, up 0.2% vs. 0.4% estimated.

    Further data saw Producer Prices contracting 0.1% on a year to March and 0.1% MoM.

    Next on tap will be Business Inventories figures (-0.1% exp. in February) seconded by the weekly report on crude oil inventories gauged by the EIA.

    USD/JPY levels to watch

    As of writing the pair is gaining 0.44% at 109.12 and a break above 111.10 (20-day sma) would expose 113.29 (55-day sma) and finally113.81 (high Mar.29). On the flip side, the next support lines up at 107.65 (2016 low Apr.12) followed by 105.18 (monthly low Oct.2014) and then 100.74 (monthly low Feb.4 2014).
    For more information, read our latest forex news.
     

Share This Page