USD/JPY drops below 109.80 after uninspiring US data


The USD/JPY pair lost nearly 15 pips with the initial reaction to Retail Sales and Industrial Production data from the US and touched a session low of 109.75 before recovering slightly. As of writing, the pair was trading at 109.78, down 0.03% on a daily basis.

DXY turns south after US data

The data published by the US Census Bureau on Friday revealed that Retail Sales in January increased by 0.3%. Although this reading matched the market expectation, further details of the report showed that the Retail Sales Control Group slumped to 0% and fell short of analysts' estimate of +0.3% to weigh on the greenback.

According to the Federal Reserve's monthly report, Industrial Production in the US contracted 0.3% in January compared to experts' forecast for a decline of 0.2%.

The US Dollar Index (DXY), which touched a fresh multi-month high of 99.16 earlier in the day, lost its traction in the early American session and was last down 0.08% on the day at 99.03.

In the meantime, the 10-year US Treasury bond yield is down 2.4% on the day to force the pair to stay in the negative territory. Investors will also be watching the University of Michigan's Consumer Confidence Index data Wall Street's performance in the remainder of the session. 

Technical levels to watch for


Today last price109.8
Today Daily Change0.02
Today Daily Change %0.02
Today daily open109.78


Daily SMA20109.51
Daily SMA50109.32
Daily SMA100108.92
Daily SMA200108.38


Previous Daily High110.12
Previous Daily Low109.62
Previous Weekly High110.02
Previous Weekly Low108.32
Previous Monthly High110.29
Previous Monthly Low107.65
Daily Fibonacci 38.2%109.81
Daily Fibonacci 61.8%109.93
Daily Pivot Point S1109.56
Daily Pivot Point S2109.34
Daily Pivot Point S3109.06
Daily Pivot Point R1110.06
Daily Pivot Point R2110.34
Daily Pivot Point R3110.57