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USD/JPY holds near lows after US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - USD/JPY edged slightly higher, moving away from daily lows following the release of the latest string of US data, which showed Philly Fed manufacturing index came in above expectations while jobless claims matched forecast.

    US jobless claims continued to fall to 271K in the week ended Nov. 14 as expected from the previous week’s 276K. Meanwhile, the Philly Fed manufacturing index rose to 1.9 in November against -1.0 expected.

    USD/JPY inched higher to 123.20 but overall it remain trading on the bottom-side of its daily range. At time of writing, the pair is trading at 123.15, still 0.37% below its opening price.

    USD/JPY levels to consider

    On the downside, next supports are seen at 122.97 (Nov 19 low), 122.20 (Nov 16 low)and 121.74 (100-day SMA). On the upside, resistances could be found at 123.74 (Nov 18 high), 124.15 (Aug 20 high) and 124.46 (Aug 19 high).
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