Back
4 May 2015
USD/JPY steady after US factory orders
FXStreet (Córdoba) - USD/JPY remained little changed following the release of in line with expectations US factory orders data.
US factory orders rose 2.1% in March, just above the 2.0% expected by analysts and after a revised 0.1% decline in the prior month. USD/JPY was immune to data and continued to trade at the 120.15 zone, virtually unchanged on the day.
The dollar strengthened during the European session and reached a high of 120.27, roughly at the same level it peaked on Friday, but failed once again and pulled back. However, with the pullback contained by the 120.08 zone, the pair has spent the last hours in a tight range.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 120.27 (May 1 & 4 highs), 120.83 (Apr 13 high) and 121.00 (psychological level). On the other hand, supports are seen at 119.99 (daily low), 119.87 (50-day SMA) and 119.55 (21-day SMA).
US factory orders rose 2.1% in March, just above the 2.0% expected by analysts and after a revised 0.1% decline in the prior month. USD/JPY was immune to data and continued to trade at the 120.15 zone, virtually unchanged on the day.
The dollar strengthened during the European session and reached a high of 120.27, roughly at the same level it peaked on Friday, but failed once again and pulled back. However, with the pullback contained by the 120.08 zone, the pair has spent the last hours in a tight range.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 120.27 (May 1 & 4 highs), 120.83 (Apr 13 high) and 121.00 (psychological level). On the other hand, supports are seen at 119.99 (daily low), 119.87 (50-day SMA) and 119.55 (21-day SMA).