The Japanese yen finds limited support from a rise in the December retail trade number. On the daily chart, last May’s low of 126.50 and the 20-day moving average (131.10) are compressing the price range and a breakout would dictate the next move in the medium-term. Intraday-wise, the pair is trying to hold on to its recent support above 129.10. A close above 131.10 would first send the greenback to the tip of a previously faded rebound at 132.80. On the downside, a breakout could trigger a bearish continuation.
