FXStreet (Córdoba) - USD/JPY continued to retreat from highs and scored fresh lows for the day following the release of much worse than expected US housing data. US new home sales fell 11.5% to a seasonally adjusted rate of 468,000 in September, from August's downwardly revised rate of 529,000. USD/JPY dipped to a fresh low of 120.59 as the knee-jerk reaction, but recovered a few pips to currently trade at 120.77, down 0.52% on the day. USD/JPY key levels In terms of technical levels, USD/JPY could find next supports at 120.59 (Oct 26 low), 120.30 (50-day SMA) and 120.00 (psychological level). On the other hand, resistances could be faced at 121.50 (Oct 26 high), 121.94 (100-day SMA) and 123.00 (psychological level/Jul 23 low). For more information, read our latest forex news.