30 Jul 2015
USD/JPY moves beyond 124.50
FXStreet (Edinburgh) - The US dollar continues to appreciate vs. its Japanese counterpart on Thursday, now pushing USD/JPY to fresh tops near 124.60.
USD/JPY stronger on US data
The pair is gathering further traction despite the US GDP for the second quarter expanded at an annual pace of 2.3% vs. 2.6% initially forecasted. In addition, Initial Claims have beaten expectations once again at 267K in the week ended on July 24th and inflation tracked by the Personal Consumption Expenditures rose 2.2% QoQ – Core PCE at 1.8% inter-quarter.
USD/JPY relevant levels
At the moment the pair is advancing 0.38% at 124.42 facing the next hurdle at 124.55 (high Jul.30) followed by 124.58 (high Jun.10) and then 125.05 (high Jun.1). On the other hand, a breakdown of 123.40 (low Jul.29) would open the door to 123.01 (low Jul.27) and finally 122.50 (low Jul.14).
USD/JPY stronger on US data
The pair is gathering further traction despite the US GDP for the second quarter expanded at an annual pace of 2.3% vs. 2.6% initially forecasted. In addition, Initial Claims have beaten expectations once again at 267K in the week ended on July 24th and inflation tracked by the Personal Consumption Expenditures rose 2.2% QoQ – Core PCE at 1.8% inter-quarter.
USD/JPY relevant levels
At the moment the pair is advancing 0.38% at 124.42 facing the next hurdle at 124.55 (high Jul.30) followed by 124.58 (high Jun.10) and then 125.05 (high Jun.1). On the other hand, a breakdown of 123.40 (low Jul.29) would open the door to 123.01 (low Jul.27) and finally 122.50 (low Jul.14).