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Forex - USD/JPY trims losses ahead of U.S. durable goods data

Published 04/24/2015, 07:53 AM
Updated 04/24/2015, 07:53 AM
© Reuters.  Greenback eases off 3-day lows vs. yen before U.S. data

© Reuters. Greenback eases off 3-day lows vs. yen before U.S. data

Investing.com - The U.S. dollar trimmed losses against the yen on Friday, easing off a three-day trough as sentiment on the greenback mildly improved ahead of a report on U.S. durable goods orders, due later in the trading session.

USD/JPY pulled away from 119.16, the pair's lowest since April 21, to hit 119.54 during European afternoon trade, still down 0.04%.

The pair was likely to find support at 118.51, the low of April 20 and resistance at 120.11, Thursday's high.

The dollar came under pressure after the U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits increased unexpectedly by 1,000 to 295,000 last week from the previous week’s total of 294,000.

Data also showed that U.S. new home sales dropped 11.4% last month to 481,000 units, compared to expectations for a 5.3% fall to 513,000 units.

The yen was steady against the euro, with EUR/JPY at 129.45.

The euro strengthened after the Ifo Institute of Economic Research earlier reported that Germany's business climate index rose to a 10-month high of 108.6 in April from 107.9 in March, beating expectations for an uptick to 108.4.

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