USD/JPY hit 103.34 during late European morning trade, the pair’s highest since April 7; the pair subsequently consolidated at 103.26, rising 0.34%.The pair was likely to find support at 102.52, Tuesday’s low and resistance at 103.39.Demand for the dollar remained supported after data on Wednesday showed that U.S. housing starts jumped 15.7% in July, while the number of new permits granted to home-builders also accelerated, pointing to underlying strength in the housing sector.The data offset a report showing that U.S. consumer prices rose just 0.1% in July.
INTRADAY OUTLOOK
Support: 102.80
Resistance: 103.44
RECOMMENDATION:
1. Buy USD/JPY Above 103.47 -TG:103.67/102.97 SL 103.17
2. Sell USD/JPY Below 102.78 -TG: 102.58/102.28 SL 103.08
INTRADAY OUTLOOK
Immediate Support: 0.9275
Immediate Resistance: 0.9338
RECOMMENDATION:
1. Buy AUD/USD Above 0.9340 - TG: 0.9360/0.9390 SL 0.9310
2. Sell AUD/USD Below 0.9272 – TG: 0.9252/0.9222 SL 0.9302
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