USD/JPY reacts to US news

Note: This section contains information in English only.
Source: Dukascopy Bank SA


US statisticians have published consumer price index and retail sales data sets. Both inflation and consumer shopping were expected to have increased. In general, the data showed that prices have risen less than expected. However, retail sales are unchanged. US Dollar reacted to the news by plummeting.

It resulted in the USD/JPY dropping to the 154.50/154.80 zone. The zone acted as support, before forcing the pair to retrace back up to levels near 155.50.

A resumption of the prior surge would face resistance at 156.00/156.30. Take into account that this range is strengthened by the 50 and 100-hour simple moving averages. Higher above, the 156.50 level is set to act as resistance.

On the other hand, a decline of the pair could look for support in the mentioned 154.50/154.80 zone. Further below, note the 154.00 mark and the weekly S1 simple pivot point at 153.70.
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