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USD/JPY hits daily low after US jobless claims

FXStreet (Córdoba) - USD/JPY edged slightly lower after data showed US initial jobless claims rose more than expected in the week ended Nov 8.

Initial claims for unemployment benefits in the US rose by 12,000 last week to 290,000, versus 280,000 expected, and posting the biggest increase in 2 months. However, claims have remained below 300,000 for a ninth straight week now.

USD/JPY was barelñy affected, although it dropped a few pips and hit a marginal new low of 115.30. At time of writing, the pair is trading at 115.43, virtually unchanged on the day.

USD/JPY technical levels

In terms of technical levels, USD/JPY could find next supports at 115.30 (daily low), 115.14 (100-hour SMA) and 114.88 (Nov 12 low). On the flip side, resistances are seen at 115.87 (daily high), 116.00 (psychological level/Nov 12 high) and 116.09 (7-yr high Nov 11).

US initial jobless claims rise to 290k

Data released by the US department of labor showed that in the week ending November 8, the advance figure for seasonally adjusted initial claims was 290,000, an increase of 12,000 from the previous week's unrevised level of 278,000. The 4-week moving average was 285,000, an increase of 6,000 from the previous week's unrevised average of 279,000.
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