118,00 Level Should be Followed / USDJPY / 28/01/2015 11:17:18Yesterday durable goods orders came in lower than market expected in the US. Also durable goods orders declined compared to the previous year. But consumer confidence and new home sales data stay remained above expectations. The USDJPY pair moved downward throughout the day.
Today FED’s rate decisions and policy statements will be followed...
in the US side. Also retail sales data will be announced in Japan in the Asian session.
Technically in case of the pair staying above the 118,00 support level, then the 118,70 and the 119,25 level would be test. On the other hand in case of the pair breaking the 118,00 support level, then the selling pressure would be rising.