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23 Jun 2015
USD/JPY shrugs off US durable goods orders, nears 124.00
FXStreet (Córdoba) - USD/JPY pulled back slightly but then turned up and reached fresh daily highs following the release of US durable goods orders data.
US durable goods orders fell by 1.8% in May, missing expectations of a 0.6% drop and following a downwardly revised 1.5% fall in April. However, excluding transportation, orders rose 0.5% slightly below the 0.6% of forecast. Capital goods orders climbed 0.4% versus expectations of a 0.5% increase.
USD/JPY reacted negatively to data but found support at the 123.70 level and quickly turned higher. At time of writing, the pair is trading at 123.90, up 0.45% on the day, having reached a peak of 123.96 so far.
USD/JPY technical levels
As for technical levels, immediate resistances are seen at 124.13 (Jun 11 high), 124.44 (Jun 17 high) and 124.60 (Jun 10 high). On the flip side, supports could be found at 123.33 (Jun 23 low), 123.00 (psychological level) and 122.55 (Jun 22 & 19 low).
US durable goods orders fell by 1.8% in May, missing expectations of a 0.6% drop and following a downwardly revised 1.5% fall in April. However, excluding transportation, orders rose 0.5% slightly below the 0.6% of forecast. Capital goods orders climbed 0.4% versus expectations of a 0.5% increase.
USD/JPY reacted negatively to data but found support at the 123.70 level and quickly turned higher. At time of writing, the pair is trading at 123.90, up 0.45% on the day, having reached a peak of 123.96 so far.
USD/JPY technical levels
As for technical levels, immediate resistances are seen at 124.13 (Jun 11 high), 124.44 (Jun 17 high) and 124.60 (Jun 10 high). On the flip side, supports could be found at 123.33 (Jun 23 low), 123.00 (psychological level) and 122.55 (Jun 22 & 19 low).