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27 Nov 2013
USD/JPY breaks above 102.00
FXstreet.com (Córdoba) - The USD/JPY gathered steam and broke above the 102.00 psychological level during the New York session, underpinned by strong US consumer confidence data.
USD/JPY boosted by confidence data
The Reuters/Michigan consumer confidence index rose to 75.1 in November, exceeding expectations of 73.5, boosting the greenback across the board. The USD/JPY was propelled to a fresh 6-month high of 102.17, last seen May 29. Separated data also showed US leading index grew more than expected in October, while the Chicago PMI came in stronger-than-expected in November.
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 102.05 area, recording a 0.8% gain Wednesday, with immediate resistances lining up at 102.51 (May 29 high) and not much until 103.00 (psychological level). On the other hand, supports are seen at 101.14 (Nov 26 low) and 101.00 (psychological level).
USD/JPY boosted by confidence data
The Reuters/Michigan consumer confidence index rose to 75.1 in November, exceeding expectations of 73.5, boosting the greenback across the board. The USD/JPY was propelled to a fresh 6-month high of 102.17, last seen May 29. Separated data also showed US leading index grew more than expected in October, while the Chicago PMI came in stronger-than-expected in November.
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 102.05 area, recording a 0.8% gain Wednesday, with immediate resistances lining up at 102.51 (May 29 high) and not much until 103.00 (psychological level). On the other hand, supports are seen at 101.14 (Nov 26 low) and 101.00 (psychological level).