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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).

US Redbook index (YoY) falls to 2% in Apr 7; -2.7% (MoM)

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The Redbook index contracted 2.7% on a monthly basis during the week ended on April 7 and rose 2.0% YoY, against previous prints at 0.7% and 2.5%, respectively.
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