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In anticipation of US retail sales data, its worth to have a look at USDJPY action. The pair was fluctuating in a range of 107-115 in the recent months. The pending retail sales data could give a boost to a stallen movement in the pair. Recently the price consolidated in a descending channel. The most expected move from a current 112.2 level is a break of the downward sloping trendline at retest of the upper channel boundary at 113.5. A SL to be placed at 111.7.
