USD/JPY extends beyond 113.00 on USD GDP

By FXStreet The greenback is picking up further pace vs. the Japanese currency today, lifting USD/JPY to fresh daily highs beyond 113.00 the figure.

USD/JPY stronger post-US data

The pair has seen its upside accelerated after advanced US GDP figures have surprised to the upside today, showing the economy has expanded at an annual pace of 1.0% during Q4.

Further data saw the US trade deficit widening more than expectations to $62.23 billion during January, while inflation gauged by the PCE rose 0.4% inter-quarter during the last three months of 2015.

USD/JPY levels to watch

As of writing the pair is advancing 0.37% at 113.36 with the next hurdle at 114.89 (high Feb.16) ahead of 115.28 (high Feb.10) and then 114.72 (20-day sma). On the flip side, a breakdown of 110.98 (low Feb.11) would expose 105.88 (200-m sma) and finally 105.18 (monthly low Oct.2014).
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Source:: FX Street