Japanese retail sales plunge bullish for USDJPY
Japan’s retail spending dropped 7.1% over year in October, the fastest pace in four and half years. Will the USDJPY rise?
The price chart on 1-hour timeframe shows USDJPY: H1 is trading sideways. The price is rising above the 200-period moving average MA(200) which is rising. And the Stochastic oscillator is above 50 level and has not reached the overbought zone. There is no trend yet formed, traders have to decide when it would be a best time to enter the market.