USD/JPY & US durable goods orders: Greenback ahead of Jackson Hole
Today at 12:30 GMT we'll know the US durable goods orders on a monthly basis, where the analysts are looking for an increase from -3.9% to 3.3%. This data could be a market mover for today in US dollar, alongside with the Jackson Hole Symposium that will start today and Janet Yellen is due to speak on Friday. That rise from the durable goods orders is highly expected, following it had a dip on the last month's reading of 3.9%.
In terms of technical analysis, the USD/JPY pair at H1 chart is showing us a triangle pattern in formation between the 100.87 and 99.63 levels, According to the recent price action, the pair may face some selling pressure around the 200 SMA on this timeframe, as for now, it didn't manage to consolidate above it. However, if the pair does a breakout with a big candlestick at that zone to the upside, our next target would be the 101.00 psychological level.