Home sales lift the dollar to new highs
I still haven't fully got used to this situation of prices properly moving in the direction of the data rather than trading central bank catch phrases but it's welcome nonetheless.
USD/JPY has cracked the recent highs to 119.88
The 55 dma is playing a part in the top at the moment and it's joined by the Dec 2014 trend line at 119.95
USDJPY daily chart
There's still some headway to be made on the upside and these numbers are unlikely to give the buck a big push, but it's a green tick for the economy and so in the current trend today, we may yet see further highs and a test of 120.00
