The USDJPY continues to fall after the retail sales disappoint. The control group which feeds into the GDP saw the number come in at 0.0% vs +0.2%. The revision shaved a healthy amount off of the January number (from +0.6% to +0.2%). What was a great start to 2016 (+0.6% control group) now looks not so great (with +0.2% and 0.0%). Expect to see moves to the downside in the Atlanta GDP estimator later today. Technically, the USDJPY remains -in the grand picture - within the range extremes but with a negative bias once again. Looking at the hourly chart, the pair is trading below the 50% of the ... READ MORE
