19 Feb 2015
USD/JPY hit fresh session highs as US jobless claims fall
FXStreet (Mumbai) - The USD/JPY pair hit a fresh session high of 119.11 levels after the data in the US showed jobless claims decreased more than forecast last week.
USD/JPY trades above hourly 100-MA
The upbeat data pushed the pair above the 100-MA located at 119.01 levels. The initial jobless claims in the last week fell 21K to 283K, compared to the estimate of 290K, and down from the previous figure of 304K. The four-week moving average, a less volatile measure than the weekly figures, dropped to 283,250 last week, a three-month low, from 289,750.
However, the upbeat data failed to result in significant gains in the 10-year Treasury yield, which trades 2.087%, a tad lower from the daily high of 2.098% hit earlier today. Consequently, the USD/JPY has eased slightly to 119.07 from the high of 119.11 levels.
USD/JPY Technical Levels
The immediate resistance is seen at 119.39, above which gains could be extended to 119.68 levels. On the flip side, a break below 118.82 could see the pair re-test the daily low at 118.42.
USD/JPY trades above hourly 100-MA
The upbeat data pushed the pair above the 100-MA located at 119.01 levels. The initial jobless claims in the last week fell 21K to 283K, compared to the estimate of 290K, and down from the previous figure of 304K. The four-week moving average, a less volatile measure than the weekly figures, dropped to 283,250 last week, a three-month low, from 289,750.
However, the upbeat data failed to result in significant gains in the 10-year Treasury yield, which trades 2.087%, a tad lower from the daily high of 2.098% hit earlier today. Consequently, the USD/JPY has eased slightly to 119.07 from the high of 119.11 levels.
USD/JPY Technical Levels
The immediate resistance is seen at 119.39, above which gains could be extended to 119.68 levels. On the flip side, a break below 118.82 could see the pair re-test the daily low at 118.42.