1 May 2014
USD/JPY bounces after short-lived fall on mixed US data
FXStreet (Córdoba) - The USD/JPY retreated from daily highs as the dollar weakened weighed by disappointing US jobless claims data.
US jobless claims unexpectedly rose by 14,000 to 344,000 in the week ending Apr 25, missing expectations of 319,000. Meanwhile on the other hand, personal income and personal spending grew more than expected in March by 0.5% and 0.9% respectively as PCE inflation rose 0.2% in March and 1.1% YoY. The USD/JPY that was trading near highs at 102.32, saw a quick dip to 102.18 before bouncing back to pre data levels. At time of writing, the USD/JPY is trading at 102.30, up 0.08% on the day.
USD/JPY supports & resistances
In terms of technical levels, the USD/JPY could find next resistances at 102.65 (Apr 30 high), 102.77 (Apr 29 high), 102.87 (100-day SMA) and 103.00 (psychological level). On the other hand, supports are seen at 102.12 (May 1 low), 102.00/02 (psychological level/Apr 30 low) and 101.80 (Apr 16 low).
US jobless claims unexpectedly rose by 14,000 to 344,000 in the week ending Apr 25, missing expectations of 319,000. Meanwhile on the other hand, personal income and personal spending grew more than expected in March by 0.5% and 0.9% respectively as PCE inflation rose 0.2% in March and 1.1% YoY. The USD/JPY that was trading near highs at 102.32, saw a quick dip to 102.18 before bouncing back to pre data levels. At time of writing, the USD/JPY is trading at 102.30, up 0.08% on the day.
USD/JPY supports & resistances
In terms of technical levels, the USD/JPY could find next resistances at 102.65 (Apr 30 high), 102.77 (Apr 29 high), 102.87 (100-day SMA) and 103.00 (psychological level). On the other hand, supports are seen at 102.12 (May 1 low), 102.00/02 (psychological level/Apr 30 low) and 101.80 (Apr 16 low).