The greenback is alternating gains with losses vs. its Japanese peer on Friday, with USD/JPY hovering over the 114.65/60 band.
USD/JPY looks for direction below 115.00
The pair is extending its bearish fashion this week, losing ground since Monday although recovering from yesterday’s multi-week troughs in sub-114.00 levels.
The softer tone in the buck and declining US yields have been behind the pair’s sharp downside from Monday’s tops in the mid-117.00s, particularly following the recent press conference by US president-elect Donald Trump.
Later in the NA session, US Retail Sales are seen expanding at a monthly 0.7% in December, while the US Consumer Sentiment tracked by the Reuters/Michigan Index is expected to have improved to 98.5 during the current month.
USD/JPY levels to consider
As of writing the pair is retreating 0.09% at 114.60 facing the next support at 113.73 (low Jan.12) followed by 112.92 (55-day sma) and finally 111.98 (38.2% Fibo of the November-December 2015 up move). On the other hand, a break above 115.53 (high Jan.12) would aim for 116.70 (20-day sma) and then 117.53 (high Jan.9).
|TREND INDEX||OB/OS INDEX||VOLATILY INDEX|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.