Japanese retail trade declined more than expected in December

 Buz Investors Japanese retail trade declined more than expected in December In Japan, retail trade registered a drop of 1.70% on a monthly basis in December, compared to an advance of 0.20% in the prior month. Market anticipation was for retail trade to drop 0.50%.

Buz Investors Japanese retail trade declined the USD rose 0.48% against the JPY and closed at 115.03 on Friday.

In the Asian session, at GMT0400, the pair is trading at 114.39, with the USD trading 0.56% lower against the JPY from Friday’s close.

Overnight data showed that Japan’s seasonally adjusted retail trade eased more-than-expected by 1.7% MoM in December, compared to market expectations for a fall of 0.5% and following a gain of 0.2% in the preceding month. Further, the nation’s larger retailers’ sales declined 1.3% in December, higher than market consensus for a drop of 1.0% and after registering a fall of 0.3% in the preceding month.



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Japanese retail trade declined

The pair is expected to find support at 113.96, and a fall through could take it to the next support level of 113.54. The pair is expected to find its first resistance at 115.09, and a rise through could take it to the next resistance level of 115.80.

Moving ahead, investors will closely monitor Japan’s jobless rate and flash industrial production data, both for December, scheduled to release overnight.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)




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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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