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5 May 2016
USD/JPY keeps gains above 107.00 on US data
The greenback is clinging to its daily gains vs. its Japanese counterpart today, with USD/JPY navigating the low-107.00s following US releases.
USD/JPY now looks to Fedspeak
Spot remained apathetic after US Initial Claims rose to 274K during the last week, missing expectations and up from previous week’s 257K, taking the 4-Week Average to 258K (from 256K).
While spot has lost some of its initial upside momentum, the greenback will remain the focus of attention later today ahead of speeches by FOMC’s Bullard, Kaplan, Lockhart and Williams.
USD/JPY levels to watch
As of writing the pair is advancing 0.02% at 107.06 facing the next hurdle at 108.83 (20-day sma) followed by 111.19 (55-day sma) and finally 111.92 (high Apr.28). On the flip side, a breakdown of 105.52 (2016 low May 3) would open the door to 105.18 (monthly low Oct.2014) and then 101.97 (monthly low Aug.7 2014).
USD/JPY now looks to Fedspeak
Spot remained apathetic after US Initial Claims rose to 274K during the last week, missing expectations and up from previous week’s 257K, taking the 4-Week Average to 258K (from 256K).
While spot has lost some of its initial upside momentum, the greenback will remain the focus of attention later today ahead of speeches by FOMC’s Bullard, Kaplan, Lockhart and Williams.
USD/JPY levels to watch
As of writing the pair is advancing 0.02% at 107.06 facing the next hurdle at 108.83 (20-day sma) followed by 111.19 (55-day sma) and finally 111.92 (high Apr.28). On the flip side, a breakdown of 105.52 (2016 low May 3) would open the door to 105.18 (monthly low Oct.2014) and then 101.97 (monthly low Aug.7 2014).