Finally some cheer for the dollar as the housing market shows some strength

USDJPY looking to test the early May highs as housing builds a great case for longs

120.50 is the target for USDJPY as housing starts give the Fed some ammo for interest rate rises

USDJPY daily chart

120.65/70 still remains one of the bigger levels to watch up here and a break will have buyers looking at 121 and 121.50/55

Is this number enough to wipe out the weakness we've been seeing recently? Not at all but what it does do is show us the willingness for buyers to jump on good numbers compared to selling bad numbers. Price action, as always, is king