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USD/JPY falls off highs to 101.55/58 after GDP in US

FXstreet.com (Barcelona) - The USD/JPY has erased its losses on the day and streamed forward Thursday, as the USD made a steadfast comeback with the recent release of US data on tap.

In the United States, Gross Domestic Product (Annualized) came in at +2.4% in Q1, missing expectations of +2.5%. In addition, the Gross Domestic Product Price Index grew +1.2% in Q1, matching estimates of +1.2%.

The Mataf.net analyst team posits the next means of supportive correction at 100.41, followed by 99.55, 98.51. On the rise, a break above 102.31 will foster resistive measures at 103.35 and 104.21.

At the time of writing, the pair is operating at 101.55/58, notching a sizable advance of +0.44% ahead of US trading. In terms of the technical levels, Mataf.net analysts identify the next short-term resistances at 102.31, onto 103.35, and finally 104.21. Alternatively, the USD/JPY will encounter means of support at 100.41, then 99.55, and ultimately 98.51.

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