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Forex: USD/JPY slightly off intraday maximum at 96.44/46

The USD/JPY is trading just off its session highs Thursday (96.61) at the onset of American trading. On the heels of more upbeat US data, coupled with previous figures, the US economy looks to be on the rebound. This in turn has driven up the USD, which now trades at 96.44/46 against the JPY. In these moments the pair has secured an advance of +0.37% above its opening, en route to broken resistance.

After moving above calculated resistance at 96.29, the Mataf.net technical analyst team identifies further resistances at 96.68 onto 97.10. Should the USD/JPY retrace its daily gains, the pair will face measures of calculated support at 95.47, then 95.05, and 94.67.

In the United States, Initial Jobless Claims (March 10) came in at only 332K, against expectations of 350K. Moreover, the Producer Price Index (YoY) grew +1.7% in February, in line with consensus projections. Finally, the Producer Price Index ex-Food and Energy yielded a figure of +0.2% in February, matching expectations of +0.2%.

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