10 Oct 2013
USD/JPY holds gains after US claims
FXstreet.com (Córdoba) - The USD/JPY saw a quick and short-lived drop after data showed US jobless claims rose more than expected last week.
Initial claims for unemployment benefits in US surged to 374,000 in the first week of October, the highest level in six months, against 310,000 expected, weighing on the greenback. USD/JPY slid to the 97.65 area before quickly bouncing back to pre-data levels. At time of writing, USD/JPY is trading at the 97.80 area, up 0.5% on the day, having printed a high of 97.88.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate resistances at 97.88 (daily high) and 98.00 (psychological level) ahead of 98.20 (20-day SMA). On the downside, supports are seen at 97.63 (Oct 9 high) and 97.35 (daily low) ahead of 97.00(psychological level).
Initial claims for unemployment benefits in US surged to 374,000 in the first week of October, the highest level in six months, against 310,000 expected, weighing on the greenback. USD/JPY slid to the 97.65 area before quickly bouncing back to pre-data levels. At time of writing, USD/JPY is trading at the 97.80 area, up 0.5% on the day, having printed a high of 97.88.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate resistances at 97.88 (daily high) and 98.00 (psychological level) ahead of 98.20 (20-day SMA). On the downside, supports are seen at 97.63 (Oct 9 high) and 97.35 (daily low) ahead of 97.00(psychological level).