USD/JPY hits fresh daily lows after US GDP
USD/JPY fell to fresh daily lows at the beginning of the New York session, with the greenback barely reacting to US GDP revision.
US gross domestic product expanded at a 0.8% seasonally adjusted annual rate in the first quarter of 2016, a little bit faster than initially estimated 0.5% grow, but below the 0.9% expected.
USD/JPY dropped a few pips and scored a daily low of 109.46, from 109.60 pre-data. At time of writing, the pair is trading at 109.58, still 0.15% below its opening price.
USD/JPY levels to watch
As for technical levels, next supports are seen at 109.40 (May 26 low), 109.10 (May 23 low), 108.63 (21-day SMA) and 108.45 (May 16 low). On the other hand, resistances could be faced at 110.00 (May 27 high/psychological level), 110.57 (May 20 high), 111.03 (Feb 24 low) and 111.87 (Apr 28 high).
Source:: FX Street
