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12 Apr 2013
Forex: USD/JPY falls to 99.26/27 after US retail sales
FXstreet.com (Barcelona) - The USD/JPY recently fell off the 99.33 handle, capping a recovery attempt on the heels of mixed US economic data Friday. In these moments the cross is trading at 99.26/27, off -0.39% from its opening.
“To confirm the upside move, we need stability above resistance level at 99.85, and ultimately a breach of 100.35 and prolonged stability above it. Therefore, we will remain neutral in our report waiting for confirmation signals.” notes the ICN.com analyst team.
Briefing the technical levels, Mataf.net analysts point to supports for the USD/JPY at 99.18, then 98.73, and finally 98.35. Should any losses be pared, resistances lie ahead at 100.01, then 100.40, up to 100.85.
In the United States, Retail Sales (MoM) contracted -0.4% in March, compared with estimated of zero change. Meanwhile, the Producer Price Index (MoM) yielded a figure of 0.2% in March, against expectations of 0.2%.
“To confirm the upside move, we need stability above resistance level at 99.85, and ultimately a breach of 100.35 and prolonged stability above it. Therefore, we will remain neutral in our report waiting for confirmation signals.” notes the ICN.com analyst team.
Briefing the technical levels, Mataf.net analysts point to supports for the USD/JPY at 99.18, then 98.73, and finally 98.35. Should any losses be pared, resistances lie ahead at 100.01, then 100.40, up to 100.85.
In the United States, Retail Sales (MoM) contracted -0.4% in March, compared with estimated of zero change. Meanwhile, the Producer Price Index (MoM) yielded a figure of 0.2% in March, against expectations of 0.2%.