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16 May 2014
USD/JPY pops after solid US housing data
FXStreet (Córdoba) - The USD/JPY received a mild boost and printed a marginal new high for the day after better-than-expected US housing data.
US housing starts grew 13.2% in April to 1072 K vs. 980K expected, while building permits rose to 1080K vs 1010K expected. The USD/JPY climbed nearly 20 pips on the data and hit a daily high of 101.66 although the movement lacked momentum as investors remain pretty much sidelined ahead of the weekend.
USD/JPY technical levels
At time of writing, the USD/JPY is trading at the 101.55 area, little changed on the day but headed for its second weekly loss in a row. As for technical levels, the pair could find next supports at 101.30 (May 15 low), 101.10 (200-day SMA) and 100.75 (Feb 5 low). On the other hand, resistances are seen at 101.66 (May 16 high), 101.85 (10-day SMA) and 102.10 (May 15 high).
US housing starts grew 13.2% in April to 1072 K vs. 980K expected, while building permits rose to 1080K vs 1010K expected. The USD/JPY climbed nearly 20 pips on the data and hit a daily high of 101.66 although the movement lacked momentum as investors remain pretty much sidelined ahead of the weekend.
USD/JPY technical levels
At time of writing, the USD/JPY is trading at the 101.55 area, little changed on the day but headed for its second weekly loss in a row. As for technical levels, the pair could find next supports at 101.30 (May 15 low), 101.10 (200-day SMA) and 100.75 (Feb 5 low). On the other hand, resistances are seen at 101.66 (May 16 high), 101.85 (10-day SMA) and 102.10 (May 15 high).