22 Aug 2013
USD/JPY pulls back after US jobless claims
FXstreet.com (Cordoba) - The USD/JPY retreated further from recent highs after data showed US jobless claims rose more-than-expected last week.
USD/JPY weighed by US jobless claims
Following an over 100-pip rally, USD/JPY found resistance at the 98.80 zone and weighed by disappointing US employment data, it deepened its correction in recent dealings. Jobless claims rose to 336K last week from 320K and versus 329K expected.
After the data, USD/JPY pulled back to the 98.45/50 zone, where it is trading at time of writing, still 0.8% above its opening price.
USD/JPY levels to watch
In terms of technical levels, immediate supports could be found at 98.35 (10-hour SMA) and 98.00 (psychological level). On the other hand, resistances are seen at 98.80 (daily high), 98.95/99.00 (100-day SMA/psychological level) and 99.15 (Aug 5 high).
USD/JPY weighed by US jobless claims
Following an over 100-pip rally, USD/JPY found resistance at the 98.80 zone and weighed by disappointing US employment data, it deepened its correction in recent dealings. Jobless claims rose to 336K last week from 320K and versus 329K expected.
After the data, USD/JPY pulled back to the 98.45/50 zone, where it is trading at time of writing, still 0.8% above its opening price.
USD/JPY levels to watch
In terms of technical levels, immediate supports could be found at 98.35 (10-hour SMA) and 98.00 (psychological level). On the other hand, resistances are seen at 98.80 (daily high), 98.95/99.00 (100-day SMA/psychological level) and 99.15 (Aug 5 high).