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USD/JPY retreats further after durable goods orders

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - Dollar extended losses versus the yen and dropped to fresh daily lows after data showed US durable good orders fell more than expected in September.

    Orders for durable goods declined a seasonally adjusted 1.2% in September versus a fall of 1.1% expected. August durable goods orders dropped a revised 3% from 2.3% previously estimated. Meanwhile, excluding transportation orders fell 0.4% versus 0.0% expected.

    USD/JPY shed a few pips and touched a 5-day low of 120.15. At time of writing, the pair is trading at 120.25, still 0.68% below its opening price.

    USD/JPY levels to watch

    As for technical levels, immediate support levels are seen at 120.00 (psychological level/20-day SMA), 119.60 (38.2% Fibo retracement of 125.27/116.16 and Oct 22 low) and 119.13 (Oct 19 low). On the flip side, resistances could be faced at 120.97/121.00 (200-day SMA/psychological level) and 121.50 (Oct 26 high) ahead of 121.90 (100-day SMA).
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