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13 May 2013
Forex: USD/JPY testing the 102.00 level following US retail sales
FXstreet.com (Barcelona) - During the waking stages of US trading Monday, the USD/JPY managed to pare the majority of losses on the day, bouncing off the 101.57 level. Following the release of US data, the cross is now trading at 101.99/00, up +0.11% on the day.
In the United States, Retail Sales (MoM) grew at a rate of +0.1% in April, against expectations of -0.3%, compared with -0.4%. In addition, Retail Sales ex Autos (MoM) were reported at -0.1% in April, matching. projections calling for -0.1%.
According to the Mataf.net technical analyst team, the USD/JPY will encounter the following short-term supports at 101.10, then 100.32, and finally 99.89. Conversely, the pair is slated to face resistance at 102.31, then 102.75, and ultimately 103.52.
In the United States, Retail Sales (MoM) grew at a rate of +0.1% in April, against expectations of -0.3%, compared with -0.4%. In addition, Retail Sales ex Autos (MoM) were reported at -0.1% in April, matching. projections calling for -0.1%.
According to the Mataf.net technical analyst team, the USD/JPY will encounter the following short-term supports at 101.10, then 100.32, and finally 99.89. Conversely, the pair is slated to face resistance at 102.31, then 102.75, and ultimately 103.52.