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26 Aug 2013
USD/JPY slumps after US durable goods orders
FXstreet.com (Córdoba) - The USD/JPY slumped to fresh lows after data showed US durable goods orders fell 7.3% in July, much more than expected.
USD/JPY weighed by disappointing durable goods orders
USD/JPY dropped over 30 pips in a matter of minutes and scored a 4-day low of 98.26 in recent dealings, as weak US data raises doubts the Fed would begin tapering its bond-buying program next month.
However, most analysts note that weak US homes sales data Friday and disappointing durable goods orders are unlikely to derail Fed tapering timetable, as key data report in this respect remains the September NFP.
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 98.30 zone, 0.2% below its opening price with resistances lining up at 98.85 (daily high) and 99.15 (Aug 23 high) and 99.35 (61.8% retracement of 101.54-95.81). On the flip side, supports are seen at 98.40 (Aug 23 low), 98.15 (100-hour SMA) and 98.00 psychological level.
USD/JPY weighed by disappointing durable goods orders
USD/JPY dropped over 30 pips in a matter of minutes and scored a 4-day low of 98.26 in recent dealings, as weak US data raises doubts the Fed would begin tapering its bond-buying program next month.
However, most analysts note that weak US homes sales data Friday and disappointing durable goods orders are unlikely to derail Fed tapering timetable, as key data report in this respect remains the September NFP.
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 98.30 zone, 0.2% below its opening price with resistances lining up at 98.85 (daily high) and 99.15 (Aug 23 high) and 99.35 (61.8% retracement of 101.54-95.81). On the flip side, supports are seen at 98.40 (Aug 23 low), 98.15 (100-hour SMA) and 98.00 psychological level.