USD/JPY Keeps 111.00 on Poor US Docket
USD/JPY remained apathetic after poor results from today’s US calendar, keeping the trade around the 111.00 neighbourhood.
USD/JPY supported near 110.80
The pair has managed to rebound from earlier troughs near 110.80 and keeps navigating the boundaries of 111.00 the figure amidst a persistent offered sentiment around the dollar.
In the data space, US New Home Sales have disappointed expectations, increasing less than expected by 511K in March, or dropping 1.5%. Moving forward, USD will take centre stage tomorrow, as Durable Goods Orders, the S&P/Case-Shiller index and Consumer Sentiment gauged by CB are all due. In Japan, the BoJ will hold its meeting on Thursday.
USD/JPY levels to watch
As of writing the pair is losing 0.64% at 111.01 and a break below 110.00 (20-day sma) would open the door to 107.65 (2016 low Apr.12) and then 105.18 (monthly low Oct.2014). On the other hand, the next up barrier lines up at 111.88 (high Apr.25) followed by 111.95 (55-day sma) and finally 113.81 (high Mar.29).