USD/YEN Update – 18/09/2017 (11:50am) – by Arjun Lakhanpal

September 18, 2017 by

USDJPY ended above the 100-DMA on Friday for the first since July 25. The pair clocked a high of 111.33 before trimming gains to close the week at 110.84 levels. The retreat from the high of 111.33 was the result of a weaker-than-expected US retail sales but the sell-off was short-lived. Repeated bearish exhaustion around 108.00 followed by a sharp rebound to 111.30 levels indicates the pull back from the high of 118.66 [Dec high] has ended.