FXStreet (Córdoba) – USD/JPY climbed a few pips from daily lows to trade nearly flat on the day following the release of better than expected US trade balance data.
US trade deficit rose 2.9% in May to a seasonally adjusted $41.87 billion from a revised $40.7 billion in April and better than the $42.6 billion expected. The dollar rose slightly but remained overall unchanged after data. At time of writing, USD/JPY is trading at 122.53, virtually unchanged on the day.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate supports at 122.32 (Jul 7 low), 122.00 (psychological level) and 121.85 (Jul 6 low). On the flip side, resistances are seen at 122.87 (100-day SMA/Jul 7 high), 123.00 (psychological level) and 123.17 (Jul 3 high).
(Market News Provided by FXstreet)