USD/JPY tests 104.00 but rejected again

By FXstreet.com | August 26, 2014 AAA

FXStreet (San Francisco) - The US dollar jumped to test the 104.00 level against the Japanese Yen but the pair got a new rejection and now it is trading back to 103.85.



Pair was affected by US durable goods orders that rose 22.6% in July; However the data was distorted by large orders in airplanes. Ex-transportation fell 0.8%.



Currently, USD/JPY is trading at 103.92, down 0.13% on the day, having posted a daily high at 104.13 and low at 103.75. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is strongly bullish.



USD/JPY levels



There are option expiries at New York's cut around 103.00 ($430 mln) and 103.25 ($200 mln). If the pair managers to break above 104.00, next resistances are at 104.10, 104.25 and 104.45.



On the downside, supports are at 103.75, 103.50 and 103.40.



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