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16 Aug 2013
USD/JPY retreats after US housing data
FXstreet.com (Córdoba) - FXstreet.com (Córdoba) - The USD/JPY eased slightly, dropping just a few pips, after data showed US housing starts and building permits grew less than expected in July.
USD/JPY retreated from the 97.50 zone toward 97.25, erasing completely its intraday gains in the wake of disappointing housing data. At time of writing, USD/JPY is trading at the 97.35 zone, virtually unchanged since opening.
USD/JPY keeps the positive bias
“Throw back from 98.25 yesterday pm. (where the USD matched the extent of previous corrections) confirmed the resistance there, but the high volume hold at 97.00 is bullish in turn”, says the FXMarketAlerts team. “Now a run back through 97.80 returns USD to a long bias, this time for a run past 99.00”.
USD/JPY retreated from the 97.50 zone toward 97.25, erasing completely its intraday gains in the wake of disappointing housing data. At time of writing, USD/JPY is trading at the 97.35 zone, virtually unchanged since opening.
USD/JPY keeps the positive bias
“Throw back from 98.25 yesterday pm. (where the USD matched the extent of previous corrections) confirmed the resistance there, but the high volume hold at 97.00 is bullish in turn”, says the FXMarketAlerts team. “Now a run back through 97.80 returns USD to a long bias, this time for a run past 99.00”.