24 Apr 2014
USD/JPY spikes to fresh highs on US data
FXStreet (Córdoba) - The USD/JPY spiked to fresh daily highs at the beginning of the New York session following the latest string of mixed US data.
While March durable goods orders rose 2.6% exceeding the 2.0% increase expected, last week's jobless claims disappointed (329K vs 310 exp.). The USD/JPY jumped to a marginal new high of 102.60 from 102.45 pre-data but lacked follow-through to attack the 102.70 area (top of this week's range). At time of writing, the pair is trading at 102.55, virtually unchanged on the day.
USD/JPY levels to watch
In terms of technical levels, resistances are seen at 102.71 (Apr 22 high), 102.88 (100-day SMA) and 103.00 (psychological level). On the other hand, supports could be found at 102.00 (psychological level) and 101.85 (Apr 17 low).
While March durable goods orders rose 2.6% exceeding the 2.0% increase expected, last week's jobless claims disappointed (329K vs 310 exp.). The USD/JPY jumped to a marginal new high of 102.60 from 102.45 pre-data but lacked follow-through to attack the 102.70 area (top of this week's range). At time of writing, the pair is trading at 102.55, virtually unchanged on the day.
USD/JPY levels to watch
In terms of technical levels, resistances are seen at 102.71 (Apr 22 high), 102.88 (100-day SMA) and 103.00 (psychological level). On the other hand, supports could be found at 102.00 (psychological level) and 101.85 (Apr 17 low).