26 Aug 2015
USD/JPY edges higher after durable goods orders
FXStreet (Córdoba) - USD/JPY pushed a tad higher and printed fresh daily highs following the release of stronger-than-expected US durable goods orders.
New orders for durable goods rose a seasonally adjusted 2% in July from a month earlier, beating expectations of a 0.4% decline. Excluding transportations, orders rose 0.6% versus 0.4% expected.
USD/JPY stretched to a fresh daily peak of 119.90 but failed to gather momentum to regain the 120.00 level. At time of writing, the pair is trading at 119.70, recording a 0.76% gain on the day.
The dollar has been slowly recovering ground after bottoming out at 116.16 on Monday amid a bout of panic across financial markets and worries that recent plunge in stocks could delay the timing of the lift-off by the Fed.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 119.90 (Aug 26 high), 120.39 (Aug 25 high) and 120.68 (200-day SMA). On the flip side, supports are seen at 118.44 (Aug 26 low), 118.24 (Aug 25 low) and 118.00 (psychological level).
New orders for durable goods rose a seasonally adjusted 2% in July from a month earlier, beating expectations of a 0.4% decline. Excluding transportations, orders rose 0.6% versus 0.4% expected.
USD/JPY stretched to a fresh daily peak of 119.90 but failed to gather momentum to regain the 120.00 level. At time of writing, the pair is trading at 119.70, recording a 0.76% gain on the day.
The dollar has been slowly recovering ground after bottoming out at 116.16 on Monday amid a bout of panic across financial markets and worries that recent plunge in stocks could delay the timing of the lift-off by the Fed.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 119.90 (Aug 26 high), 120.39 (Aug 25 high) and 120.68 (200-day SMA). On the flip side, supports are seen at 118.44 (Aug 26 low), 118.24 (Aug 25 low) and 118.00 (psychological level).