USD/JPY up to fresh highs after US data

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The USD/JPY rose to fresh daily highs after data showed US consumer confidence surged to its highest in more than 4 years while new home sales rose more than expected.



US consumer confidence was up 3 points to 85.2 in June, well above expectations of 83.5. Meanwhile, May housing starts grew 18.6% to 504K, above 440K forecast. On the other hand, the Richmond Fed manufacturing index dropped to 3 versus 6 expected in June, but did little to temper the USD. The USD/JPY jumped to a daily high of 102.13 from below 102.00 before the data.



At time of writing, the USD/JPY is trading at 102.05, recording a 0.15% gain on the day, having recovered from a low of 101.80 scored during the Asian session.



USD/JPY technical levels



In terms of technical levels, the pair could find immediate resistances at 102.20 (100-day SMA), 102.32 (Jun 18 high) and 102.56 (Jun 10 high). On the other hand, supports are seen at 101.73 (Jun 19 low), 101.60 (200-day SMA) and 101.42 (May 29 low).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    What’s Next: USD falls after data, focus on NFP

  2. Forex News

    April Forex Seasonality Foresees Weakest Month of Year for USD

  3. Forex News

    USD/JPY on track to climb towards 125 by year-end – Scotiabank

  4. Forex News

    USD/JPY drops to 50-DMA on weak US ISM manufacturing PMI

  5. Forex News

    Remain short USD/JPY, target 117.50 – GrowthAces

Trading Center