14 Jan 2014
USD/JPY little changed after US retail sales
FXstreet.com (Córdoba) - The USD/JPY edged a tad higher and printed a marginal new high for the day after US retail sales came in above expectations.
US retail sales increased 0.1% in December, exceeding forecast of a 0.1% gain, lifting the greenback, although only modestly. The USD/JPY reached a high of 103.75 before pulling back to pre-data levels around 103.55, where it is 0.6% above its opening price, having recovered from a 4-week low of 102.84.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate resistances at 103.75 (Jan 14 high), 104.00 (psychological level) and 104.13 (Jan 13 high). On the downside, supports could be found at 103.20 (intraday level), 102.84 (Jan 13 low) and 102.55 (Dec 18 low).
US retail sales increased 0.1% in December, exceeding forecast of a 0.1% gain, lifting the greenback, although only modestly. The USD/JPY reached a high of 103.75 before pulling back to pre-data levels around 103.55, where it is 0.6% above its opening price, having recovered from a 4-week low of 102.84.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate resistances at 103.75 (Jan 14 high), 104.00 (psychological level) and 104.13 (Jan 13 high). On the downside, supports could be found at 103.20 (intraday level), 102.84 (Jan 13 low) and 102.55 (Dec 18 low).