USD/JPY Keeps 111.00 on Poor US Docket
USD/JPY remained apathetic after poor results from today’s US calendar, keeping the trade around the 111.00 neighbourhood.
USD/JPY supported near 110.80
The
pair has managed to rebound from earlier troughs near 110.80 and keeps
navigating the boundaries of 111.00 the figure amidst a persistent
offered sentiment around the dollar.
In the data space, US New
Home Sales have disappointed expectations, increasing less than expected
by 511K in March, or dropping 1.5%. Moving forward, USD will take
centre stage tomorrow, as Durable Goods Orders, the S&P/Case-Shiller
index and Consumer Sentiment gauged by CB are all due. In Japan, the
BoJ will hold its meeting on Thursday.
USD/JPY levels to watch
As
of writing the pair is losing 0.64% at 111.01 and a break below 110.00
(20-day sma) would open the door to 107.65 (2016 low Apr.12) and then
105.18 (monthly low Oct.2014). On the other hand, the next up barrier
lines up at 111.88 (high Apr.25) followed by 111.95 (55-day sma) and
finally 113.81 (high Mar.29).
