USD/JPY rises to 1-week highs at 98.25 after US retail sales

FXstreet.com (San Francisco) - The USD/JPY has reacted to the upside following the US retail sales figures with the pair consolidating highs above the 98.00 price. US retail sales showed a weaker than expected increase of 0.2% in July, while ex-autos it was above expected at +0.5%.

Currently, the USD/JPY is trading at 98.15, 1.32% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.

USD/JPY levels

Above the 98.20, next resistances are at 98.55 and 98.75. On the downside, supports are at 98.00, 97.60 and 96.95.