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24 Dec 2013
USD/JPY steady above 104.00 after US data
FXstreet.com (Córdoba) - The USD/JPY trades a touch firmer Tuesday following a day of quiet consolidation, with the latest string of US data, including durable goods orders and home prices, having little impact on the pair.
The USD/JPY climbed toward the 104.40 zone during the Asian session but lost momentum and retreated. However, with the pullback contained by the 104.15 zone, the pair resumed its slow ascend and it is currently trading at the 104.30 zone, up 0.2% on the day.
Last Friday, the USD/JPY scored a fresh 5-year high of 104.63 before entering a consolidation phase and it is on track to post a 18.4% gain in 2013 as we head into the year-end.
USD/JPY levels to watch
As for technical levels the USD/JPY could find immediate resistances at 104.40 (daily high), 104.63 (2013 high Dec 20) and 105.00 (psychological level). On the downside, supports could be found at 104.08 (daily low), 104.00 (psychological level) and 103.77 (Dec 19 & 23 lows).
The USD/JPY climbed toward the 104.40 zone during the Asian session but lost momentum and retreated. However, with the pullback contained by the 104.15 zone, the pair resumed its slow ascend and it is currently trading at the 104.30 zone, up 0.2% on the day.
Last Friday, the USD/JPY scored a fresh 5-year high of 104.63 before entering a consolidation phase and it is on track to post a 18.4% gain in 2013 as we head into the year-end.
USD/JPY levels to watch
As for technical levels the USD/JPY could find immediate resistances at 104.40 (daily high), 104.63 (2013 high Dec 20) and 105.00 (psychological level). On the downside, supports could be found at 104.08 (daily low), 104.00 (psychological level) and 103.77 (Dec 19 & 23 lows).