19 Jun 2014
USD/JPY recovers from lows
FXStreet (Córdoba) - The USD/JPY extended its recovery from lows and erased completely intraday losses after data showed US jobless claims declined more than expected last week.
The number of people who applied for US unemployment benefits fell by 6,000 to 312,000 in the week ended June 14, against 314,000 expected. The greenback was slightly lifted by data, with the USD/JPY reaching a high of 101.91 at the beginning of the American session.
At time of writing, the USD/JPY is trading at the 101.85 zone, just a few pips below its opening price, having recovered from a daily low of 101.73.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find next resistances at 102.05 (50-day SMA), 102.38 (Jun 11 high) and 102.64 (Jun 9 high). On the other hand, supports could be found at 101.73 (Jun 19 low), 101.60 (Jun 12 low) and 101.42 (May 29 low).
The number of people who applied for US unemployment benefits fell by 6,000 to 312,000 in the week ended June 14, against 314,000 expected. The greenback was slightly lifted by data, with the USD/JPY reaching a high of 101.91 at the beginning of the American session.
At time of writing, the USD/JPY is trading at the 101.85 zone, just a few pips below its opening price, having recovered from a daily low of 101.73.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find next resistances at 102.05 (50-day SMA), 102.38 (Jun 11 high) and 102.64 (Jun 9 high). On the other hand, supports could be found at 101.73 (Jun 19 low), 101.60 (Jun 12 low) and 101.42 (May 29 low).