26 May 2015
USD/JPY reaches 123.00 after US durable goods
FXStreet (Córdoba) - USD/JPY pushed higher and printed fresh 8-year highs as the release of in-line-with-expectations US durable goods orders data added to the positive sentiment toward the greenback.
US durable goods orders dropped 0.5% in April versus a fall of 0.4% expected. However, March durable goods orders rose 5.1%, an upward revision from a previously reported 4.4% increase. Compared with a year earlier, orders fell 1.3% in April. Excluding transportation, orders rose 0.5%, matching expectations.
USD/JPY broke above previous highs and reached a peak of 122.99 but lacked momentum to decisively clear the 123.00 level. At time of writing, the pair is trading at 122.93, recording a 1.14% gain on Tuesday.
USD/JPY levels to watch
On the upside, if USD/JPY breaks above 123.00, next resistances are seen at 123.67 (Jul 9 2007 high) and 124.00 (psychological level). On the downside, supports could be found at 122.45 (intraday level), 122.00 (psychological level) and 121.44 (May 25 low).
US durable goods orders dropped 0.5% in April versus a fall of 0.4% expected. However, March durable goods orders rose 5.1%, an upward revision from a previously reported 4.4% increase. Compared with a year earlier, orders fell 1.3% in April. Excluding transportation, orders rose 0.5%, matching expectations.
USD/JPY broke above previous highs and reached a peak of 122.99 but lacked momentum to decisively clear the 123.00 level. At time of writing, the pair is trading at 122.93, recording a 1.14% gain on Tuesday.
USD/JPY levels to watch
On the upside, if USD/JPY breaks above 123.00, next resistances are seen at 123.67 (Jul 9 2007 high) and 124.00 (psychological level). On the downside, supports could be found at 122.45 (intraday level), 122.00 (psychological level) and 121.44 (May 25 low).