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16 Apr 2013
Forex: USD/JPY rises above 98.00 after US data
FXstreet.com (Córdoba) - The dollar extended gains versus the yen and climbed back above 98.00 after data showed US housing starts rose more-than-expected in March and consumer prices came in slightly lower than expected.
USD/JPY rose to a fresh daily high of 98.13 and it is currently trading around 98.00 where it prints a 1.3% gain on the day, having recovered over 200 pips from a low of 95.76.
As for technical levels, next resistances are seen at 98.30 (200-hour SMA), 98.70 (Apr 15 high) and 99.00 (psychological level). On the other hand, supports could be found at 96.60 (intraday level), 96.00 (psychological level) and 95.76 (intraday low).
USD/JPY rose to a fresh daily high of 98.13 and it is currently trading around 98.00 where it prints a 1.3% gain on the day, having recovered over 200 pips from a low of 95.76.
As for technical levels, next resistances are seen at 98.30 (200-hour SMA), 98.70 (Apr 15 high) and 99.00 (psychological level). On the other hand, supports could be found at 96.60 (intraday level), 96.00 (psychological level) and 95.76 (intraday low).