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25 Apr 2013
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).
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).