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18 Mar 2014
USD/JPY little affected by US data
FXStreet (Córdoba) - The USD/JPY eased a tad following the latest batch of US data which showed consumer prices grew less than expected while housing data came in mixed.
The consumer price index rose 0.1% in February and 1.1% on yearly basis versus 0.1% and 1.2% expected. Meanwhile, housing starts came in at 907k on an annual rate, close to 910K expected and building permits soared 7.7% in February after a revised 4.6% fall in January. However, USD/JPY reaction was modest, with the pair retreating a few pips within today's range to currently trade at 101.55, 0.2% below its opening price.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 101.26 (Mar 14 low), 101.00 (psychological level) and 100.77 (2014 low Feb 3). On the flip side, resistances are seen at 101.93 (Mar 18 high), 102.23 (100-day SMA) and 102.85 (Mar 13 high).
The consumer price index rose 0.1% in February and 1.1% on yearly basis versus 0.1% and 1.2% expected. Meanwhile, housing starts came in at 907k on an annual rate, close to 910K expected and building permits soared 7.7% in February after a revised 4.6% fall in January. However, USD/JPY reaction was modest, with the pair retreating a few pips within today's range to currently trade at 101.55, 0.2% below its opening price.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could find immediate supports at 101.26 (Mar 14 low), 101.00 (psychological level) and 100.77 (2014 low Feb 3). On the flip side, resistances are seen at 101.93 (Mar 18 high), 102.23 (100-day SMA) and 102.85 (Mar 13 high).