1. Hello Guest Click here to check FX Binary Point Financial Directory

USD/JPY stays down after US retail sales

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The US dollar remains on the defensive Friday, trading near monthly lows against the yen, failing to stage a decent bounce even after the latest string of supportive US data.

    US retail sales rose 0.2% in November, below the 0.3% expected but still the largest increase since July, while excluding autos sales grew 0.4%, beating consensus of 0.3%. Separated data showed producer prices rose more than expected in the same month, as shown by both the headline and the core index.

    USD/JPY however failed to benefit from data and continued to trade below 122.50 after a shy bounce attempt. At time of writing, USD/JPY was trading at 122.47, a few pips below its opening price.

    USD/JPY levels to consider

    On the downside, next support is seen at 121.06 (Dec 9 low) and 120.59 (Nov 3 low). On the other hand, resistances line up at 121.58/64 (50- 200- and 100-day SMAs) and then 121.85 (Dec 10 high) ahead of the 122.25/30 area (former support zone).

    What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too.

    For more information, read our latest forex news.

Share This Page