USD/JPY turns positive near 106.20 ahead of US data

The greenback continues to push higher today, now sending USD/JPY back to the positive territory around 106.20.

USD/JPY looks to US data, easing rumours

The selling pressure remains unchanged around the Japanese currency during the first half of the week, propped up by rumours of extra easing measures by the BoJ at its meeting on July 29.

In addition, USD is extending its rally to the 97.00 neighbourhood when gauged by the US Dollar Index, fresh 4-month peaks.

In the data space, US Housing Starts and Building Permits for the month of June are due later in the NA session.

USD/JPY levels to consider

As of writing the pair is up 0.01% at 106.18 facing the immediate hurdle at 106.72 (61.8% Fibo of June down move) followed by 106.85 (post-Brexit high Jun.24) and finally 108.47 (100-day sma). On the flip side, a breakdown of 103.38 (20-day sma) would open the door to 100.02 (low Jul.8) and then 99.08 (2016 low Jun.24).