USD/JPY advances to daily highs after Philly Fed

FXStreet (San Francisco) - The USD/JPY reacted positive after the stronger than expected Philly Fed Manufacturing index that jumped to its highest level since March 2011 at 23.9. The pair is testing the MA 200 hours at 101.55.

The Philadelphia Fed Manufacturing index jumped to 23.9 in June, well above expectations and the highest number since March 2011.

Currently, USD/JPY is trading at 101.54, down 0.12% on the day, having posted a daily high at 101.71 and low at 101.40. USD/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.

USD/JPY levels

Above the 101.55, the USD/JPY would face resistances at 101.65 and 101.75. On the downside, supports are at 101.40, 101.25 and 101.10.