20 Nov 2013
USD/JPY rises above 100.00 after US data
FXstreet.com (Córdoba) - The USD/JPY jumped back above 100.00 at the beginning of the New York session following the latest string of US data.
In the US data front, October CPI came slightly below expectations, with the monthly reading printing -0.1% versus 0.0% expected. Meanwhile, October retail sales climbed by 0.4% against a 0.1% rise expected. The USD/JPY gained on the news and hit a high of 100.07 but lost momentum to stage a steeper rally and pulled back to pre-data levels. At time of writing, the USD/JPY is trading at the 99.95 zone, still down 0.2% on the day.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could face next supports at 99.78 (daily low), 99.55 (10-day SMA) and 99.10 (Nov 13 low). On the upside, resistances are seen at the 100.20/25 area (Nov 20 & 19 highs) followed by 100.42 (Nov 15 high) and 100.60 (Sep 11 high).
In the US data front, October CPI came slightly below expectations, with the monthly reading printing -0.1% versus 0.0% expected. Meanwhile, October retail sales climbed by 0.4% against a 0.1% rise expected. The USD/JPY gained on the news and hit a high of 100.07 but lost momentum to stage a steeper rally and pulled back to pre-data levels. At time of writing, the USD/JPY is trading at the 99.95 zone, still down 0.2% on the day.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could face next supports at 99.78 (daily low), 99.55 (10-day SMA) and 99.10 (Nov 13 low). On the upside, resistances are seen at the 100.20/25 area (Nov 20 & 19 highs) followed by 100.42 (Nov 15 high) and 100.60 (Sep 11 high).