US dollar steady versus yen after data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - US dollar remained broadly unchanged against the yen, following the release of the latest string of US data, which showed the number of applicants for unemployment benefits rose to a 5-month high last week.

    US initial jobless claims rose by 13,000 in the week ending Dec 5 and reached a 5-month high of 282,000 against expectations of 269,000. Separated data showed US tradable goods prices rose slightly below expectations.

    dropped a few pips after the release but remained within its daily range, contained by the 121.20 zone. At time of writing, the pair is trading at 121.30, still 0.10% below its opening price.

    USD/JPY levels to watch

    On the downside, if USD/JPY breaks below 121.20, next supports could be found at 121.06 (Dec 9 low) and 120.59 (Nov 3 low). On the other hand, resistances line up at 121.57 (50- and 200-day SMA crossover) and then 121.85 (Dec 10 high) ahead of the 122.25/30 area (former support zone).

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