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USD/JPY hovers near 2 ½-month high after US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/JPY edged slightly higher toward the upper-side of its daily range, but overall remained little changed following the release of in line with expectations US data.

    US import price index dropped 0.5% in October, meeting expectations, while export price index fell 0.2%, as forecasted.

    The US dollar barely reacted to data, with USD/JPY climbing to the 123.35 area. At time of writing, the pair is trading at 123.30, 0.12% above its opening price and near to its 2 ½-month peak scored yesterday at 123.59.

    USD/JPY levels to watch

    As for technical levels, next resistances are seen at 123.59 (Nov 9 high), 124.15 (Aug 24 high) and 124.50 (Aug 18 high). On the flip side, supports could be found at 122.96 (Nov 9 low), 121.75 (100-day SMA) and 121.17 (200-day SMA).
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