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14 Jan 2015
Yen surges on weak US retail sales - MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes that USD/JPY responded sharply to the weak US retail numbers, as the pair has fallen about 120 points so far.
Key Quotes
“USD/JPY has sustained sharp losses on Wednesday. In the European session, the pair is trading in the mid-116 range. The yen has taken advantage of awful US retail numbers. Core Retail Sales fell by 1.0%, while Retail Sales dropped 0.9%.”
“In Japan, today’s highlight is Core Machinery Orders, with the markets expecting a strong gain of 4.8.”
“USD/JPY has posted losses in the Asian and European sessions, braking below two support levels.”
“116.69 is a weak resistance line. 117.94 is stronger. 115.56 is a strong support level.”
“Current range: 115.56 to 116.69”
Key Quotes
“USD/JPY has sustained sharp losses on Wednesday. In the European session, the pair is trading in the mid-116 range. The yen has taken advantage of awful US retail numbers. Core Retail Sales fell by 1.0%, while Retail Sales dropped 0.9%.”
“In Japan, today’s highlight is Core Machinery Orders, with the markets expecting a strong gain of 4.8.”
“USD/JPY has posted losses in the Asian and European sessions, braking below two support levels.”
“116.69 is a weak resistance line. 117.94 is stronger. 115.56 is a strong support level.”
“Current range: 115.56 to 116.69”