Investing.com - The U.S. dollar edged higher against the yen on Wednesday, after data showing that U.S. existing home sales hit the highest level since 2007 in June added to expectations for the Federal Reserve to raise interest rates in the coming months.
USD/JPY hit 124.07 during U.S. morning trade, the session high; the pair subsequently consolidated at 123.97, adding 0.08%.
The pair was likely to find support at 123.23, the low of July 15 and resistance at 124.50, Tuesday's high and a more than one-month high.
The National Association of Realtors reported on Wednesday that U.S. existing home sales increased by 3.2% to 5.49 million units last month from 5.32 million in May. Analysts had expected existing home sales to rise 1.2% to 5.40 million units in June.
The data came after Fed Chair Janet Yellen said last week that the Fed is likely to raise rates "at some point this year."
The yen was higher against the euro, with EUR/JPY sliding 0.27% to 135.06.
Sentiment on the single currency remained vulnerable as the Greek parliament was set to vote later Wednesday on a second set of reforms needed to secure the country's bailout deal.
If lawmakers approve the financial and judicial reforms, Greece will be able to press ahead with negotiations for an €86 billion bailout from its creditors.
Greece's next major deadline is August 20, when it must pay €3.2 billion owed to the European Central Bank, followed by a payment of €1.5 billion to the International Monetary Fund in September.