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USD/JPY keeps moving higher before the US Durables data

FXStreet (Moscow) - USD/JPY posted 5-day high at 109.37, coming closer to 6-year high on broad based USD strength.

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Wednesday showed that US data mean a lot for the market, thus, scheduled for release today Durable Goods Orders may attract much attention as well. Investors want to see evidence of stable recovery in order to keep pricing-in earlier than expected Fed rate hike. However, the American data is not that positive – the strong New Home Sales came after weak Existing Home Sales. If Durables come out significantly below expectations, it may send the pair back to recent lows with 108.61 on the agenda.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 108.89 with support below at 108.61, 108.17 and 107.89 with resistance above at 109.32, 109.60 and 110.04. Hourly Moving Averages are bullish, with the 200SMA bullish at 108.26 and the daily 20EMA bullish at 106.95. Hourly RSI is bullish at 65.

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