USD/JPY Back Below 109.00 after US Data
USD/JPY briefly rose back above the 109 mark but resumed the slide following the release of the latest string of US data.
US industrial production decreased a seasonally adjusted 0.6% in March (-0.1% expected), posting the sixth decline over the past seven months. Meanwhile, capacity utilization, a measure of industrial slack, dropped to 74.8% in March, versus 75.4% expected.
USD/JPY has been on the retreat on Friday following three days of gains. At time of writing, the pair was trading at 108.95, down 0.36% on the day, having set a daily low of 108.78.
USD/JPY levels to watch
In terms of technical levels, next supports are seen at 108.50 (Apr 13 low) and 107.86 (Apr 12 low) ahead of 107.62 /2016 low, Apr 11). On the flip side, resistances line up at 109.72 (Apr 15 high), 109.89 (Apr 7 high) and 110.63 (Apr 6 high).
(Market News Provided by FXstreet)