The greenback keeps the upbeat tone vs. the Japanese currency on Tuesday, nw
sending USD/JPY
to session tops in the boundaries of 121.20.
USD/JPY off highs
post-releases
The pair has retreated from session highs after US
Factory Orders have once again disappointed investors today, this time
contracting 1.0% from August to September vs. a forecasted drop of 0.9%; Factory
Orders excluding the Transportation sector have contracted 0.6%, a tad better
from the previous 1.1% drop.
In the meantime, spot is extending its
weekly advance after rebounding from the 120.20 area, where sits the 55-day sma,
retaking the 121.00 handle and on track to challenge last week’s tops near
121.50.
USD/JPY levels to consider
At the moment
the pair is up 0.30% at 121.12 and a breakout of 121.53 (high Oct.26) would open
the door to 121.72 (100-day sma) and finally 121.91 (61.8% Fibo of
125.28-116.46). On the other hand, the immediate support aligns at 120.17
(55-day sma) ahead of 119.84 (38.2% Fibo of 125.28-116.46) and then 118.68
(2-month uptrend).
