New lows for the week too.
The USDJPY has moved below the trend line connecting the low from November 27 and yesterday (at 112.56). The pair has also taken out the low from yesterday at 112.45. The price printed 112.415 so far.
The 112.56 will now be close risk for sellers.
The next target comes in at 112.291. That is the 50% of the move up from the November 27 low.
- Retail sales were higher than expected today. Should be dollar bullish.
- Initial jobless claims were at lower levels. Should be dollar bullish.
- GDP estimates were raised. Should be dollar bullish
- US yields are higher but off the highs for the day. Neutral.
- Stocks have given up earlier gains. Neutral.
- The technicals are more bearish on the breaks of the trend lines. The price is also staying below the 100 and 200 hour MAs today.
Hurting the USDJPY perhaps is the selling in the EURJPY. It is also a new lows for the day and week.