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21 May 2015
USD/JPY steady around 121.00 after US jobless claims
FXStreet (Córdoba) - The dollar was barely affected and continued to trade at the 121.00 area against the yen, after data showed US initial jobless claims rose to a 1-month high last week.
The number of people who applied for U.S. unemployment benefits increased by 10,000 in the week ending May 15 to 274,000 (271,000 expected), hitting the highest level in 4 weeks. Separated data showed the Chicago Fed national activity index edged up to -0.15 from -0.36 in March.
USD/JPY rose a few pips toward the 121.20 zone after the data, but remained well-within its recent range. At time of writing, the pair is trading at 121.15, still 0.14% below its opening price.
Later during the New York session, watch for the Markit manufacturing PMI, the CB leading index, Philly Fed and the Kansas manufacturing indexes and existing home sales data, ahead of more important CPI figures to be released on Friday.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 121.47 (May 20 high), 121.65 (Mar 12 high) and 122.02 (Mar 10 high). On the other hand, supports are seen at 120.83 (daily low), 120.57 (May 20 low) and 120.33 (100-hour SMA).
The number of people who applied for U.S. unemployment benefits increased by 10,000 in the week ending May 15 to 274,000 (271,000 expected), hitting the highest level in 4 weeks. Separated data showed the Chicago Fed national activity index edged up to -0.15 from -0.36 in March.
USD/JPY rose a few pips toward the 121.20 zone after the data, but remained well-within its recent range. At time of writing, the pair is trading at 121.15, still 0.14% below its opening price.
Later during the New York session, watch for the Markit manufacturing PMI, the CB leading index, Philly Fed and the Kansas manufacturing indexes and existing home sales data, ahead of more important CPI figures to be released on Friday.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 121.47 (May 20 high), 121.65 (Mar 12 high) and 122.02 (Mar 10 high). On the other hand, supports are seen at 120.83 (daily low), 120.57 (May 20 low) and 120.33 (100-hour SMA).