USD/JPY is a bit of a dead fish in the water as we open in Tokyo while markets have had very little to go on while we await the Jackson Hole and Yellen speaking.
There was some less than poor data from the US in durable goods overnight, a key component to the GDP figures that has been struggling to bounce back from a poor Q1. nonetheless, we will get the second estimate of the US GDP for Q2 tomorrow and should there be further downward revisions, this could overshadow anything remotely hawkish from Yellen and weaken the outlook for the greenback.
US key data wrap ahead of Jackson Hole - ANZ
USD/JPY levels
With spot trading at 100.45, we can see next resistance ahead at 100.49 (Daily Classic PP), 100.52 (Hourly 20 EMA), 100.53 (Daily Open), 100.53 (Weekly High) and 100.60 (Daily High). Support below can be found at 100.42 (Daily Low), 100.42 (Weekly Classic PP), 100.39 (Hourly 100 SMA), 100.39 (Hourly 200 SMA) and 100.34 (Daily Classic S1). Regarding candlestick formations, we can see Doji formation on the 1-hour.
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