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USD/JPY steady despite disappointing US data

FXStreet (Córdoba) - USD/JPY has continued to trade on both sides of 119.00 unable to set short-term direction, with the latest string of US data having little impact on the greenback.

USD/JPY remain resilient and even rose a few pips despite disappointing data. US initial jobless claims rose more than expected in the week ending Apr 10 (294K vs 280K exp), while housing starts increased 2% in March to a seasonally adjusted annual rate of 926,000, below the 1.040 million expected.

USD/JPY levels to watch


At time of writing, the pair was trading at the 119.10 area, virtually unchanged on the day. As for technical levels, next resistances could be found at 119.45 (daily high) and 119.73/76 (Apr 15 high/21-day SMA). On the flip side, supports are seen at 118.78 (Apr 15 & 16 low) and 118.32 (Mar 26 low).

US housing starts adds another soft chapter to the US story – ING

Rob Carnell of ING, reviews the US housing starts and permits numbers, noting that the soft picture for the US economic continued to be painted today, burying any possible June rate hike expectations.
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