Forex: USD/JPY trades in “green” on US session, around 99.50

FXstreet.com (Barcelona) - Carried by a stronger upper move in the EUR/JPY, the USD/JPY was able to not only erase its daily losses back to 99.19 but also to quote 100 pips above the daily low of 98.48, as it quotes at 99.48 as of writing after printing a high at 99.53.

In the meantime, the economic calendar saw the publication of US manufacturing and housing data. The April new home sales report registered a 1.5% rise, from 0.411M to 0.417M, staying below the 0.420M consensus. The March drop was revised higher from -4.6% to -7.6%. The April new home sales report registered a 1.5% rise, from 0.411M to 0.417M, staying below the 0.420M consensus. The March drop was revised higher from -4.6% to -7.6%.

The flash Markit manufacturing PMI in the US fell from 54.6 to 52.0 in April, disappointing market consensus that was pointing to 54.0. Having risen 0.6% in January, the US housing price index rose once again in February, increasing the pace to 0.7%, according to the Office of Federal Reserve Housing Enterprise Oversight.

Mataf.net analysts point to resistance at 99.45 and 99.90, while supports might be found at 98.45, 97.90 and 97.25.