Monday, July 26, 2010

USD/JPY extends recovery after US new home sales


Forex Special

(Córdoba) – The Yen lost ground across the board following a much better than expected report on US new home sales. USD/JPY extended its recovery from 86.82 (daily low) and rose further above 87.00. The pair jumped to 87.38 after the report but sill trades more than 40 pips below daily highs that lie at 87.71. 

Currencies tied to commodities also rally after the report with the Canadian Dollar leading. CAD/JPY broke above 84.60 and reached a fresh 1-week high at 84.72.

The number of new home sales in the US rose sharply by 23.6% in June, from a revised downbeat number of 36.7% fall earlier in May. The figure outstripped best expectations, after analysts anticipated a modest 5% increase.

CAD/JPY (Jul 26 at 14:18 GMT)

84.66/70 (0.46%)

H 84.785 L 83.775

S3S2S1R1R2R3
83.306483.515783.725084.055084.265184.4753
[?]Trend Index[?]OB/OS Index
Slightly BearishNeutral
Data updated on Jul 26 at 14:00 (15-minute timeframe)


[ View CAD/JPY Technical Studies ]

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