USDJPY - Retest Of 2016 Low Maintains Bearish Pressure, Limited Upside Action Seen For Now

The pair retested last Thursday’s new 2016 low on overnight’s fresh weakness. Monday’s trading ended in red, after recovery action stalled at 104.82, confirming persisting downside pressure.
Long bearish candle of last week weighs, with daily technicals being in firm bearish mode.
Final break through 103.50 breakpoint could be delayed for prolonged consolidation, as daily RSI / Slow Stochastic are oversold. However, limited upside action is seen for now, with yesterday’s high at 104.82, marking solid resistance, ahead of 105.20 (Fibo 38.2% of 107.89/103.54 downleg) and former low at

US Retail Sales Rise Again in May

In US retail sales rose by a stronger than expected 0.5% in May 2016 (compared to market expectations for a 0.3% increase) to build on a strong April gain.

Excluding the auto sector, sales rose by 0.4% with 'control' sales (retail sales ex-autos, gas stations, and building material stores) also posting a 0.4% increase that built on an outsized 1.0% jump in April.