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12 Sep 2013
USD/JPY pops as US jobless claims unexpectedly drop
FXstreet.com (Córdoba) - The USD/JPY jumped and trim losses after data showed US jobless claims declined last week, against market expectations, fueling speculation the Fed could “Septaper” after all.
US initial jobless claims decreased by 31,000 to 292,000 in the week ended Sep 7, the Labor Department said Thursday. That beat expectations of 330,000 and was the lowest level of claims since April 2006. However, a government official attributed the surprising plunge to computer-related glitches.
The dollar strengthened on the news and USD/JPY moved off daily lows, but the recovery attempt was halted by the 99.70 zone. At time of writing, USD/JPY is trading at the 99.50/55 zone, still 0.3% below its opening price, after being rejected from the 100.60 area on Wednesday.
USD/JPY technical levels
In terms of technical levels, USD/JPY could face immediate resistances at 99.70 (intraday level) and 100.00 (psychological level), while supports might be found at 99.19 (daily low) and 99.00 (100-day SMA).
US initial jobless claims decreased by 31,000 to 292,000 in the week ended Sep 7, the Labor Department said Thursday. That beat expectations of 330,000 and was the lowest level of claims since April 2006. However, a government official attributed the surprising plunge to computer-related glitches.
The dollar strengthened on the news and USD/JPY moved off daily lows, but the recovery attempt was halted by the 99.70 zone. At time of writing, USD/JPY is trading at the 99.50/55 zone, still 0.3% below its opening price, after being rejected from the 100.60 area on Wednesday.
USD/JPY technical levels
In terms of technical levels, USD/JPY could face immediate resistances at 99.70 (intraday level) and 100.00 (psychological level), while supports might be found at 99.19 (daily low) and 99.00 (100-day SMA).