USD/JPY hit hard by weak US durable goods orders

USD/JPY extended lower in Asia, following a decline yesterday on data showing orders for US durable goods unexpectedly declined a seasonally adjusted 1.4% in February from a month earlier. The pair broke below recent 119.22-23 lows and through the key 119.00 level to 118.92. EUR/JPY moved off from 131.10 to 130.68, GBP/JPY from 177.91 to 177.09, AUD/JPY from 93.80 to 92.84.

EUR/USD traded a small range in Asia with low volumes. USD weakness helped buoy the euro as did a strong German Ifo report yesterday. EUR/GBP consolidated gains that were made to 0.7385 and held between 0.7366-78 in Asia. EUR/CHF was steady between 1.0521-44 and also consolidating just below yesterday’s high of 1.0545.

GBP/USD was better bid alongside EUR/USD between 1.4873-97 in Asia.

USD/CHF did nothing in Asia, holding between 0.9586-0.9607 and was not impacted by the plunge in USD/JPY.

AUD/USD opened in Asia at 0.7842 and traded down steadily from 0.7851 to 0.7800 on profit taking from the recent rally. The 0.7800 level looks to be a good support level for now.

NZD/USD closed in New York at 0.7604 and a drop ensued from 0.7611 to 0.7571.

The post USD/JPY hit hard by weak US durable goods orders appeared first on Forex Circles.

Source:: USD/JPY hit hard by weak US durable goods orders

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