22 Jul 2015
USD/JPY regains 124.00 after US housing data
FXStreet (Córdoba) - The dollar picked up momentum and extended the bounce against most peers following the release of better-than-expected housing data.
US existing home sales rose 3.2% in June to a seasonally adjusted annual rate of 5.49 million, hitting the fastest pace since February 2007 and beating expectations of 5.40 million. USD/JPY pushed higher, regained the 124 mark and printed a fresh daily high of 124.10. At time of writing, USD/JPY is trading at 124.03, up 0.13% on the day.
The dollar is staging a recovery across the board on Wednesday after the pullback witnessed yesterday.
USD/JPY key levels
In terms of technical levels,next resistances are seen at 124.37 (Jul 20 high), 124.46 (Jul 21 high) and 124.60 (Jun 10 high). On the flip side, supports could be found at 123.56 (Jul 22 low), 123.00 (psychological level/50-day SMA) and 122.26 (Jul 13 low).
US existing home sales rose 3.2% in June to a seasonally adjusted annual rate of 5.49 million, hitting the fastest pace since February 2007 and beating expectations of 5.40 million. USD/JPY pushed higher, regained the 124 mark and printed a fresh daily high of 124.10. At time of writing, USD/JPY is trading at 124.03, up 0.13% on the day.
The dollar is staging a recovery across the board on Wednesday after the pullback witnessed yesterday.
USD/JPY key levels
In terms of technical levels,next resistances are seen at 124.37 (Jul 20 high), 124.46 (Jul 21 high) and 124.60 (Jun 10 high). On the flip side, supports could be found at 123.56 (Jul 22 low), 123.00 (psychological level/50-day SMA) and 122.26 (Jul 13 low).