USD/JPY backs away from highs after US data

FXStreet (Córdoba) – USD/JPY pulled back a few pips but remained overall steady following the latest series of US data.

S&P Case-Shiller US Home Price Index rose 0.3% in April versus 0.8% expected while year-over-year the index climbed 4.9% below the 5.5% of forecast. Meanwhile, Chicago PMI came in at 49.4 in June, slightly below the 50.0 expected.

However, the dollar was barely affected by data while investors attention focuses mainly on Greek developments. USD/JPY retreated a few pips from session highs and was last trading at the 122.30 zone, 0.16% below its opening price.

USD/JPY levels to watch

As for technical levels, immediate supports are seen at 121.93 (Jun 30 low) and 121.84 (50-day SMA). On the other hand, resistances could be found at 122.71 (Jun 30 high), 123.00 (psychological level) and 123.24 (10-day SMA).

USD/JPY pulled back a few pips but remained overall steady following the latest series of US data.

(Market News Provided by FXstreet)