Housing data is meh. Philly Fed index, not so good
The US housing data was a bit worse than expected and has started to back off from higher levels as higher prices and higher rates are a bad combination. The Philly Fed index was not great either coming in lower than expectations at 11.9 vs 22.0 (and 25.7 last month).
The USDJPY has moved back below the 100 hour MA on the news (at 110.803). The price has moved toward the 61.8% of the move up from last week at 110.609. The 50% midpoint of the week's trading comes in at 110.765. On the downside, the broken trend line comes in at 110.50. That trend line saw the price chop around that line yesterday and earlier today.
Pres. Trump just said "Our Economy is doing better than ever. Money is pouring into our cherished DOLLAR like rarely before..." It is interesting that he acknowledged a higher dollar, and did not try to weaken it. Nevertheless, the USDJPY has not really reacted to the comment.