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Forex pairs in this Article » USD/JPY (Guatemala) - USD/JPY is battling with the ascending support line that is being defended on a positive Retails Sales result for the US dollar.

USD/JPY was revived earlier on poor data from Japan. Strategists at Brown Brothers Harriman explained that Japan reported a simply horrible current account figure. “On an unadjusted basis, the deficit of JPY592.8 bln is the largest on record and is about 2/3 larger than the Bloomberg consensus”. The pair took flight on the poor data piercing through 103.70. The unit has since been a choppy play within a small range. US Retail Sales for December printed 0.2% vs 0.1% sending the dollar on a more positive trend. Meanwhile, the correlation between the Nikki and JPY hampers USD/JPY.

USD/JPY Levels

The 20 DMA is 104.33, the 50 DMA is 102.35 and the 200 DMA is 99.69. RSI (14) reads 50.21. Supports are ascending from 102.37, 102.50, 102.68, 102.85. Spot is 103.65 while resistances are 103.57, 103.83, 104.20 and 104.29.
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