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Forex: USD/JPY edges higher after US jobless claims

FXstreet.com (Córdoba) - The dollar edged only slightly higher versus the yen after data showed US initial jobless claims fell by 16,000 to a near 5-year low of 339,000 in the latest week, bearing expectations of 351,000.

USD/JPY rose to the 99.25 area, from around 99.10 before the data. However momentum was shallow and at time of writing, the pair is trading around 99.15/20, where it is still down 0.3% on Thursday.

As for technical levels, on the upside immediate resistances are seen at 99.55 (daily high) and 99.90 (high Apr 22) ahead of 99.95(2013 high Apr 11). On the downside, next support levels could be found at 98.97 (daily low), 98.63 (200-hour SMA) and 98.47(low Apr 23).

Forex: USD/CAD collapses to 1.0200

The US Dollar is currently trading lower against its Canadian counterpart following the better than expected US jobless claims data. The USD/USD has declined 35 pips in the latest minutes from 1.0230 to break down the 1.0220 support and test the 1.0200 area.
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Forex Flash: Gilts face correction on horizon – RBS

According to Dmytro Bondar, a Technical Strategist at RBS, “Gilts met the initial target of 119.93 but fell short of 120.52 and formed a major reversal candlestick pattern (higher high, lower low, lower close) known as an outside session. It changes the view and suggests that should the 20-day MA and 119.27 level be broken, there would be strong chances of turning bearish with targets of 119.00 and 118.61. A sustained price above 120.00 makes it constructive again.”
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