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Forex pairs in this Article » USD/JPY
FXStreet (Córdoba) - The USD/JPY spiked to fresh February highs at the beginning of the New York session amid higher US yields although the advance was tempered by worse-than-expected US housing data.

The USD/JPY jumped to 102.80 and hit its highest level since Jan 31 before finding resistance and pulling back slightly. At time of writing, the USD/JPY is trading at the 102.70 area, recording a 0.4% gain on the day.

In the macroeconomic domain, US existing home sales dropped 5.1% in January versus -4.3% expected, following a 0.8% rise the previous month.

USD/JPY technical levels

In terms of technical levels, if the USD/JPY breaks above the 102.80 zone, next resistances are seen at 103.00 (psychological level) and 103.44 (Jan 29 high). On the other hand, supports could be found at 102.20 (21-day SMA), 102.00 (psychological level) and 101.66 (Feb 20 low).
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