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USD/JPY remains below 108.00 after US data

FXStreet (Córdoba) - USD/JPY remained little changed, consolidating below the 108.00 level, following the release of the latest string of US data.

US initial jobless claims unexpectedly dropped to 287K last week from an upwardly revised reading of 288K and versus 294K of consensus as wholesales inventories rose 0.7% in August versus 0.3% expected.

However, USD/JPY remained trapped in a narrow where it has spent the last hours after bouncing off a 3-week low of 107.52. At time of writing, the pair is trading at the 107.80 zone, recording a 0.24% loss Thursday.

USD/JPY technical perspective

According to Valeria Bednarik, chief analyst at FXStreet, short-term indicators maintain a bearish bias, “with a new slide below 107.60 probably anticipating fresh lows near the 107.00 price zone”.

Bednarik sees immediate 107.60, 107.30 and 106.90, while she places resistances at 108.20, 108.50 and 108.80.

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