13 May 2014
USD/JPY retreats after US retail sales
FXStreet (Córdoba) - The USD/JPY fell sharply at the beginning of the American session, as the greenback weakened on the back of disappointing US retail sales figures.
US retail sales rose a mere 0.1% in April, missing market’s expectations of a 0.4% gain and following a revised 1.5% increase the previous month. Excluding autos, sales remained unchanged against a 0.6% rise expected.
The USD/JPY slid from daily highs at the 102.30 area to a session low of 102.14 immediately after data, although it quickly bounce to mid ground. At time of writing, the pair is trading at 102.25, still up 0.15% on the day.
USD/JPY technical levels
The USD/JPY could find next resistances at 102.37 (50-day SMA), 102.65 (Apr 30 high), 102.77 (Apr 29 high) and 103.02 (May 2 high). On the other hand, supports are seen at 102.10 (May 13 low), 101.78 (May 12 low), 101.54 (May 9 low) and 101.32 (Apr 11 low).
US retail sales rose a mere 0.1% in April, missing market’s expectations of a 0.4% gain and following a revised 1.5% increase the previous month. Excluding autos, sales remained unchanged against a 0.6% rise expected.
The USD/JPY slid from daily highs at the 102.30 area to a session low of 102.14 immediately after data, although it quickly bounce to mid ground. At time of writing, the pair is trading at 102.25, still up 0.15% on the day.
USD/JPY technical levels
The USD/JPY could find next resistances at 102.37 (50-day SMA), 102.65 (Apr 30 high), 102.77 (Apr 29 high) and 103.02 (May 2 high). On the other hand, supports are seen at 102.10 (May 13 low), 101.78 (May 12 low), 101.54 (May 9 low) and 101.32 (Apr 11 low).