The dollar index hit 100.57 overnight but retreats from its 13-years high in early Asian session. Against the Japanese, USD retrats 0.2 percent.

US retail sales data improved 0.8%, beats market expectation at 0.6%, but still lower than the previous month with 1% hike. Market is still waiting for the Fed’s next meeting in December, when they are expected to raise rate.

Technical Analysis:

Intraday bias for USDJPY remains bullish with some correction to within the intraday support area at 108.518-108.986. Today, my plan is going long with 109.276 as target and 109.744 in extension.

Be very careful if the price managed to break the support 108.518 because it will turn the intraday bias to bearish and possibly will drag USDJPY lower to 108.228-107.760.

Trading Plan: Buy within 108.518-108.986; target at 109.276 or 109.744


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.