OctaFX | OctaFX Forex Broker
Open trading account

USD/JPY trims losses after US jobless claims

FXStreet (Córdoba) - USD/JPY edged slightly up but remain overall within its daily range following the release of better-than-expected jobless claims data.

US initial jobless claims fell to 263K in the week ending Oct 2, posting its lowest level since mid July and below the 274K expected.

The dollar pick up some pace and managed to trim intraday losses against the yen. USD/JPY climbed to a session high of 119.95 but lacked strength to regain the 120 mark. At time of writing, the pair is trading at 119.90, little changed on the day.

Next on tap, the Fed will release latest meeting minutes during the American afternoon, while members Bullard and Williams are due to speak.

USD/JPY technical levels

In terms of technical levels, USD/JPY could find next resistances at 120.09 (Oct 8 high/100-hour SMA), 120.35 (Oct 7 high) and 120.55 (Oct 6 high) ahead of 120.87 (200-day SMA). On the other hand, supports are seen at 119.62 (Oct 8 low), 129.24 (Sep 29 low) and 118.67 (post-NFP low Oct 2).

US initial jobless claims dropped to 263K last week

The labor department data released today in the US showed the filings for unemployment benefits dropped to the lowest level since mid-July.
Read more Previous

EUR/USD slumps to 1.1240, ECB weighs

The selling pressure is accelerating around the common currency on Thursday, dragging EUR/USD to the 1.1250/45 band...
Read more Next
Start livechat