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15 May 2014
USD/JPY jumps after US data
FXStreet (Córdoba) - The dollar strengthened and took USD/JPY back above 102.00 following a solid string of US data.
US jobless claims dropped to 297K last week, its lowest since May 2007. Consumer prices rose by 0.3% in April while excluding food and energy prices rose 0.2%. Both gains matched market’s expectations. Also on a strong note, the NY manufacturing index rose to 19, almost 4 times above the 5 points expected.
The USD/JPY rose immediately after data and reached a session high of 102.08, but lacked momentum to clear its European high of 102.10 at a first attempt and pulled back. At time of writing, the pair is trading at 101.85, right where it was before the release.
USD/JPY technical levels
To the upside, above 102.10 next resistances are seen at 102.35 (May 13 high/50-day SMA) and 102.70 (100-day SMA). To the downside, supports could be found at 101.65 (May 15 low) and 101.45 (May 8 low).
US jobless claims dropped to 297K last week, its lowest since May 2007. Consumer prices rose by 0.3% in April while excluding food and energy prices rose 0.2%. Both gains matched market’s expectations. Also on a strong note, the NY manufacturing index rose to 19, almost 4 times above the 5 points expected.
The USD/JPY rose immediately after data and reached a session high of 102.08, but lacked momentum to clear its European high of 102.10 at a first attempt and pulled back. At time of writing, the pair is trading at 101.85, right where it was before the release.
USD/JPY technical levels
To the upside, above 102.10 next resistances are seen at 102.35 (May 13 high/50-day SMA) and 102.70 (100-day SMA). To the downside, supports could be found at 101.65 (May 15 low) and 101.45 (May 8 low).