22 Aug 2013
USD/JPY comes off a bit after initial jobless claims miss
FXstreet.com (Athens): USD/JPY is trading higher, despite relatively discouraging initial jobless claims
USD/JPY is still heading on the upper trend.
Global growth fears quelled after much better than expected Chinese and Euro-Zone PMIs, paving the way for the USD/JPY to move steadily higher on Thursday. The first important data this week for the US economy has come across mixed, and the US Dollar is selling off as a result. US initial jobless claims released worse than expected, but still the losses have been insulated given improvement in the monthly tracking metrics. The four-week/monthly Initial Jobless Claims average dropped to 330.5K, the lowest level of 2013 and the lowest since November 2007.
Technical outlook on USD/JPY
At the time of writing, USD/JPY is trading at 98.54,up 0.90%.The FXstreet.com Trend Index shows the pair to be slightly bullish, in overbought levels. Daily pivot point support can be found at 98.09, 97.82, 97.40 and resistance at 98,83, 99.31 and 100.10, respectively.
USD/JPY is still heading on the upper trend.
Global growth fears quelled after much better than expected Chinese and Euro-Zone PMIs, paving the way for the USD/JPY to move steadily higher on Thursday. The first important data this week for the US economy has come across mixed, and the US Dollar is selling off as a result. US initial jobless claims released worse than expected, but still the losses have been insulated given improvement in the monthly tracking metrics. The four-week/monthly Initial Jobless Claims average dropped to 330.5K, the lowest level of 2013 and the lowest since November 2007.
Technical outlook on USD/JPY
At the time of writing, USD/JPY is trading at 98.54,up 0.90%.The FXstreet.com Trend Index shows the pair to be slightly bullish, in overbought levels. Daily pivot point support can be found at 98.09, 97.82, 97.40 and resistance at 98,83, 99.31 and 100.10, respectively.