USD/JPY stuck near 10-DMA after jobless claims data

FXStreet (Mumbai) - The gains in the USD/JPY pair have been capped around the 10-DMA located at 119.74 levels after the initial jobless claims in the US printed higher-than-expected.

The pair now trades 0.33% higher at 119.63; after having clocked a high of 119.94 earlier today. Moreover, the gains in the 10-yr Treasury yield have been capped around 2.01% after the labor department data showed initial jobless claims rose 294K in the last week, higher than the expected print of 290K. The exhaustion seen in the Treasury yields has capped gains in the USD/JPY pair.

USD/JPY Technical Levels

The pair has an immediate resistance located at 119.74 (10-DMA), above which pair could test the day high of 119.94. Meanwhile, support is seen at 119.50 and 119.00 levels.