Colombian journalist and Forex's technical and fundamental analyst since 2010. His articles has been featured in several media outlets.

USD/JPY & U.S. Retail Sales: What will happen with the greenback?

Today at 12:30 GMT we'll know the US retail sales numbers for July, where the markets are expecting a decrease from 0.6% to 0.4%, and the latest release suggested that the consumer force is a key factor for the economic growth during the second semester of the year in the United States. Bear in mind that the sales had a very poor start of the 2016 year, so the further data, in a positive manner, would help to boost the greenback.

The technical picture for USD/JPY at H4 chart is telling us that a bearish consolidation is still looking to add more downside momentum in order to break the lows post-Brexit. The support zone of 100.41 remains very solid and as long as the pair trades above it, then we can witness a breakout above the 102.55 level, in order to extend the bullish momentum.

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