USD/JPY trading a bit higher Wednesday after posting a bearish reversal candle Tuesday

FXstreet.com (Barcelona) – The USD/JPY is hovering at 101.395 – below the previous resistance range of 101.46 to 101.53 – after posting a daily breakout on Monday.

USD/JPY traders to monitor heavy flow of US data Wednesday

The data flow that may have an impact on the USD/JPY Wednesday includes: US Durable Goods Orders; US Weekly Jobless Claims; US Chicago PMI; US Leading Indicators; and the US University of Michigan Consumer Sentiment Survey.

Technical outlook for USD/JPY

Technicians say the USD/JPY is trading back below the breakout level (or range) of 101.46 to 101.53. …read more