Forex: USD/JPY find support at 78.60 following overnight decline

FXstreet.com (Barcelona) - Having printed an overnight high at 78.74, USDJPY declined overnight following poor Japanese Retail Sales.

Currently trading at 78.62, price looks to have found support at 78.60 in early morning trading ahead of German Unemployment Data at 07.55 GMT. The analysis team at Forex Ticket envisage a ranging movement between 78.8-78.6 during the morning hours but an expansion of that range over the course of the day to 79.05 - 78.45. They see daily support and resistance at 78.51/78.34/78.2 and 78.82/78.96/79.13 respectively.

European Equities have opened lower and commodities are following suit. Spanish and Italian critical yields are marginally up this morning.