US New Home Sales indicator is released monthly, and provides analysts with important data the health and direction of the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at 15:00 GMT. Indicator Background US New Home Sales provides analysts and investors with a snapshot of the strength of the US housing market, one of the most important sectors of the economy. As a house is likely to be the largest purchase that a consumer will make, this indicator also can provide insight into current levels of consumer spending, a key driver of economic activity. The indicator improved to 495 thousand in October, but this was short of the estimate of 500 thousand. The upward trend is expected to continue in the November report, with the estimate standing at 507 thousand. Sentiments and levels The Fed finally pulled the trigger, but the yen managed to hold its own against the dollar as the BOJ surprised with some adjustments to monetary policy. US Final GDP, a key event, could  have a strong impact on the pair’s movement this week. So, the overall sentiment is neutral on USD/JPY towards this release. Technical levels, from top to bottom: 124.16, 123, 121.50, 120.40 and 118.55. 5 Scenarios Within expectations: 502K to 511K: In such a case, USD/JPY is likely to rise within range, with a small chance of breaking higher. Above expectations: 512K to 517K: An unexpected higher reading can send USD/JPY above one resistance level. Well above expectations: Above 517K: A sharp increase could propel the pair above a second resistance line. Below expectations: 496K to 501K: A reading lower than forecast could send USD/JPY below one support level. Well below expectations: Below 496K. In this outcome, the pair could break below a second support level. For more on the yen, see the USD/JPY forecast. To follow this event live:   [do action=”calendar-event” eventid=”64191794-d123-4355-b424-62a53a5383e1″/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next Solid dollar awaits fresh data Yohay Elam 6 years US New Home Sales indicator is released monthly, and provides analysts with important data the health and direction of the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at 15:00 GMT. Indicator Background US New Home Sales provides analysts and investors with a snapshot of the strength of the US housing market, one of the most important sectors of the economy. As a house is likely to be the largest purchase that a consumer will make, this indicator also can… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
