The dollar / yen pair is trading around 107.20
The USD / JPY pair is trading around 107.20, not far from Friday's levels, although the pair continues to remain neutral, may rise above 107.50. Japan released may retail sales data, which rose 2.1% mom, better than expected, and fell 12.3% from a year earlier, missing market expectations. Sales of major retailers for. fell by 16.7% against the expected -11.7%. the US will publish today may data on home sales, projected at -44.6% from -33.8% in the previous month. The country will also release the fed-Dallas manufacturing business index for June, expected to be -59 versus -49.2. on the 4-hour chart, 20 SMA falls below the current level, and 100 SMA falls above it. At the same time, technical indicators lack directional strength, Momentum is at 100, and the RSI is stable at 55. The USD / JPY pair will need to go beyond the Fibonacci resistance at 107.50 to gain positive momentum, while the risk will turn South after breaking below 106.95.