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14 Jan 2015
USD/JPY toying with 117.00
FXStreet (Edinburgh) - The greenback is back on track on Wednesday, pushing USD/JPY to the 117.00 neighbourhood after bottoming out around 116.50 earlier on.
USD/JPY attention to US retail sales
Spot is extending its recovery from intraday lows ahead of the US retail sales release due later. Prior surveys expect headline sales to have contracted 0.2% inter-month during December, while sales excluding the auto-sector would come in flat. Further data will show import/export prices followed by the Fed’s Beige Book.
USD/JPY levels to consider
The pair is now down 0.75% at 116.96 and a breach of 116.30 (low Dec.17 2014) would target the psychological level at 116.00 en route to 115.56 (low Nov.16 2014). On the upside, the immediate hurdle aligns at 118.19 (Kijun Sen) ahead of 118.75 (Tenkan Sen) and finally 118.85 (high Jan.13).
USD/JPY attention to US retail sales
Spot is extending its recovery from intraday lows ahead of the US retail sales release due later. Prior surveys expect headline sales to have contracted 0.2% inter-month during December, while sales excluding the auto-sector would come in flat. Further data will show import/export prices followed by the Fed’s Beige Book.
USD/JPY levels to consider
The pair is now down 0.75% at 116.96 and a breach of 116.30 (low Dec.17 2014) would target the psychological level at 116.00 en route to 115.56 (low Nov.16 2014). On the upside, the immediate hurdle aligns at 118.19 (Kijun Sen) ahead of 118.75 (Tenkan Sen) and finally 118.85 (high Jan.13).