USD/JPY climbs to fresh daily highs, US data helps

USD/JPY pushed higher and printed fresh highs for the day as the dollar received a boost  from better-than-expected US data.

USD/JPY reached a daily high of 117.60 before losing some steam. US data showed consumer confidence improved to 113.7 in December versus 108.5 expected, while the Richmond Fed mfg index rose to 8, from 4 the previous month, and the Dallas Fed index climbed to 15.5 from 10.2 in November.

At time of writing, USD/JPY is trading at 117.55, up 0.21% on the day. From a wider perspective, the dollar continues to consolidate near a 10-month high of 118.65 scored earlier this month.

USD/JPY levels to consider

In terms of technical levels, next resistances line up at 117.87 (Dec 22 high), 118.05 (Dec 21 high) and 118.23 (Dec 20 high). On the flip side, supports are seen at  117.31 (10-day SMA), 117.00 (psychological level) and 116.54 (Dec 19 low).