12 Jun 2015
USD/JPY steady after U. Michigan consumer sentiment
FXStreet (Córdoba) - USD/JPY edged slightly lower following the release of much stronger than expected US confidence figures.
The University of Michigan/Reuters consumer sentiment index rose to 94.6 in the preliminary reading for June from 90.7 in May and above expectations of 91.5.
However, despite strong confidence data, the dollar failed to regain ground and remained steady at the 123.50/60 zone. The pair was rejected from the 123.80 zone earlier and trimmed intraday gains. At time of writing, USD/JPY is trading at 123.49, still a few pips above its opening price.
USD/JPY technical levels
As for technical levels, next resistances are seen at 123.80 (Jun 12 high), 124.13 (Jun 11 high), and 124.61 (Jun 10 high). On the other hand, supports could be found at 123.32 (Jun 12 low), 123.00 (psychological level) and 122.45 (Jun 10 low).
The University of Michigan/Reuters consumer sentiment index rose to 94.6 in the preliminary reading for June from 90.7 in May and above expectations of 91.5.
However, despite strong confidence data, the dollar failed to regain ground and remained steady at the 123.50/60 zone. The pair was rejected from the 123.80 zone earlier and trimmed intraday gains. At time of writing, USD/JPY is trading at 123.49, still a few pips above its opening price.
USD/JPY technical levels
As for technical levels, next resistances are seen at 123.80 (Jun 12 high), 124.13 (Jun 11 high), and 124.61 (Jun 10 high). On the other hand, supports could be found at 123.32 (Jun 12 low), 123.00 (psychological level) and 122.45 (Jun 10 low).