Australia’s S&P/ASX200 index and Japan’s Nikkei 225 rise by 0.36% in early trading

Australia’s S&P/ASX200 index and Japan’s Nikkei are trading higher by about 0.36% in early trading.

Japan’s retail sales came in weaker than expected at 2.6% versus 2.8%. Duction was also weaker at 2.8% versus 3.6% forecast. The unemployment rate was also higher at 2.7% versus 2.5%.

So weaker than expected data from manufacturing and for the consumer.

On the price side, Tokyo core CPI came in higher than expected at 2.4% versus .2% estimate.

THe USDJPY has dipped to new lows in the current hour but remains in the middle of the 100-hour MA below at 144.46, and the 200 hour MA at 145.124. The current price is at 144.83 after trading as low as 144.74

For the AUDUSD, it is trading in a 8 pip trading range for the new trading day. The sideways price action is allowing the 100 hour MA (rising) to start to catch up to the price. The 100 hour MA comes in at 0.6786 the current price is at 0.6795. Yesterday and on Wednesday, the low prices found support buyers against the 100 hour MA – keeping the buyers in more control. It will take a move below to increase the bearish bias technically.

This article was written by Greg Michalowski at www.forexlive.com.