Pressure mounts ahead of US critical data as USD/JPY eases from 107.04 to the current 106.70 price zone. The pair is gaining bearish traction in the short-term, although further declines are not yet confirmed, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Japanese data was encouraging, as the Tertiary Industry Index recovered to 7.9% in June from -2.9% in the previous month. The focus now shifts to the US, as the country will end the week publishing July Retail Sales, seen up monthly basis 1.9%, and the preliminary estimate of the Michigan Consumer Sentiment Index for August, foreseen at 72 from 72.5 in the previous month.” “The 4-hour chart shows that the price is pressuring a bullish 20 SMA, which crossed above the larger ones. The Momentum indicator, in the meantime, is crossing its 100 line into negative ground, as the RSI consolidates at around 56.” “The 23.6% retracement of the latest bullish run provides immediate support at 106.35, with a break below the level opening the door for a steeper slide.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY Price Analysis: Upside still seen targeting 127.50 FX Street 2 years Pressure mounts ahead of US critical data as USD/JPY eases from 107.04 to the current 106.70 price zone. The pair is gaining bearish traction in the short-term, although further declines are not yet confirmed, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Japanese data was encouraging, as the Tertiary Industry Index recovered to 7.9% in June from -2.9% in the previous month. The focus now shifts to the US, as the country will end the week publishing July Retail Sales, seen up monthly basis 1.9%, and the preliminary estimate of the Michigan Consumer Sentiment Index for August, foreseen at 72… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
