The USDJPY has moved higher on the back of the better retail sales this morning. The pair has been on a roller coaster move today, falling sharply on a flight into quality but then rebounding sharply. The better data takes some pressure off the pair a bit as there is a less flight out of quality and more extension into risk. This has the effect of pressuring the JPY and raising the USDJPY in the process.
The high from earlier today came in at the 90.33 level and the price has moved above that level to a high of 90.40. Look for support today at hte 90.10 area this is around the 38.2% of the days range. it is also where the 100 day MA is currently located.
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