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2 Apr 2015
USD/JPY jumps to daily highs after US data
FXStreet (Córdoba) - The dollar strengthened a tad and took USD/JPY to fresh daily highs following the latest string of US data which showed initial jobless claims unexpectedly fell last week while trade deficit shrank in February.
US jobless claims dropped by 20,000 to 268,000 in the week ending March 28 below expectations of 285,000. Separated data showed US trade deficit declined by 17% in February to $ 35.4 billion, posting the lowest level since 2009.
The dollar benefited from data and climbed to a fresh daily high of 119.88 versus the yen, trimming some of yesterday’s losses. However, from a wider view, USD/JPY continues to trade within its weekly range around the 120 mark, unable to set short-term direction as investors await Friday’s nonfarm payrolls report.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 119.88 (daily high), 120.32/35 (daily high/Mar 31 high) and 121.00 (psychological level). On the flip side, supports are seen at 119.40 (Apr 1 low) and 119.10 (Mar 30 low).
US jobless claims dropped by 20,000 to 268,000 in the week ending March 28 below expectations of 285,000. Separated data showed US trade deficit declined by 17% in February to $ 35.4 billion, posting the lowest level since 2009.
The dollar benefited from data and climbed to a fresh daily high of 119.88 versus the yen, trimming some of yesterday’s losses. However, from a wider view, USD/JPY continues to trade within its weekly range around the 120 mark, unable to set short-term direction as investors await Friday’s nonfarm payrolls report.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 119.88 (daily high), 120.32/35 (daily high/Mar 31 high) and 121.00 (psychological level). On the flip side, supports are seen at 119.40 (Apr 1 low) and 119.10 (Mar 30 low).