Forex - USD/JPY down on economic data, earnings

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Tuesday after the release of U.S. data on Housing Starts.

USD/JPY was trading at 78.94, down 0.13% at time of writing.

The pair was likely to find support at 78.47, Thursday’s low, and resistance at 79.60, Thursday’s high.

Earlier in the day, official data showed that the number of housing starts in the U.S. rose more-than-expected to a seasonally adjusted 0.63M last month, from 0.55M in the preceding month whose figure was revised down from 0.56M.

Analysts had expected the number of housing starts to rise to 0.57M last month.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.48% to hit 1.4180 and GBP/USD rising 0.60% to hit 1.6153.

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