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27 Feb 2013
Forex: USD/JPY falls after US durable goods orders
The dollar weakened further against the yen and slipped to fresh daily lows after data showed US durable goods orders dropped more than expected in January as defense spending fell the most in more than a decade and demand for aircraft plunged although outside those volatile categories, there was underlying strength in orders.
USD/JPY lost nearly 30 pips on the data and printed a fresh daily low of 91.33. At time of writing, the cross is trading around 91.40, recording a 0.6% loss on the day.
As for technical levels, next supports could be found at 91.33 (intraday low), 91.00 (psychological level) and 90.85 (Feb 25 low). On the upside, resistances are seen at 92.25 (intraday high), 92.80 (100-hour SMA) and 93.00 (psychological level).
USD/JPY lost nearly 30 pips on the data and printed a fresh daily low of 91.33. At time of writing, the cross is trading around 91.40, recording a 0.6% loss on the day.
As for technical levels, next supports could be found at 91.33 (intraday low), 91.00 (psychological level) and 90.85 (Feb 25 low). On the upside, resistances are seen at 92.25 (intraday high), 92.80 (100-hour SMA) and 93.00 (psychological level).