21 Jan 2015
USD/JPY unchanged after mixed US data
FXStreet (Mumbai) - The USD/JPY pair continues to trade near the day’s low, largely uninspired by the release of the mixed housing data in the US.
The pair trades at 117.36, largely unchanged after the data release, and down 1.23% for the day. The data released in the US showed housing starts rose 4.4% month-on-month in December, beating the estimate of a 1.2% rise, while the Building Permits fell declined 1.9%, missing the estimate of a 0.8% rise. The mixed housing data failed to trigger any moves in the US 10-yr Treasury yields, which remain unchanged at 1.795%; down 1.2 basis points for the day. Consequently, the USD/JPY pair failed to respond to the data. However, the Yen may extend gains during the US session, if the stock markets in the US turn risk averse.
USD/JPY Technical Levels
The immediate support is seen at 116.91, under which losses could be extended to 116.50 levels. Meanwhile, resistance is seen at 117.75 and 118.04 levels.
The pair trades at 117.36, largely unchanged after the data release, and down 1.23% for the day. The data released in the US showed housing starts rose 4.4% month-on-month in December, beating the estimate of a 1.2% rise, while the Building Permits fell declined 1.9%, missing the estimate of a 0.8% rise. The mixed housing data failed to trigger any moves in the US 10-yr Treasury yields, which remain unchanged at 1.795%; down 1.2 basis points for the day. Consequently, the USD/JPY pair failed to respond to the data. However, the Yen may extend gains during the US session, if the stock markets in the US turn risk averse.
USD/JPY Technical Levels
The immediate support is seen at 116.91, under which losses could be extended to 116.50 levels. Meanwhile, resistance is seen at 117.75 and 118.04 levels.