6 Jun 2013
USD/JPY trading above 99.00 level
FXstreet.com (Barcelona) - The USD/JPY foreign exchange has seesawed back and forth around the 99.00 barrier Thursday, unable to stage a breakout in either direction.
In the United States, Initial Jobless Claims (June 1) came in at 346K, against expectations of 345K. In addition, Continuing Jobless Claims (May 25) yielded a figure of 2.952M, relative to estimates calling for 2.975M.
Briefing the technicals, the pair is operating virtually unchanged on the day at 99.09/11. The Mataf.net analyst team has calculated the next short-term supportive measures for the USD/JPY at 99.58, ahead of 98.93 and 98.52. On the ascension, the pair will encounter resistance at 100.66, then 101.08, and finally 101.74.
According to the Technical Analyst Team at ICN.com, “The USD/JPY pair is trading close to key support level of the ascending channel, whereas it touched levels close to support 98.80, then stabilized again above 99.00. The bullish support level proved its strength but at the same time the pair didn’t take an upside move forcing us to be neutral in the U.S. session report, as we wait to see how the pair would react with the upside key support.”
In the United States, Initial Jobless Claims (June 1) came in at 346K, against expectations of 345K. In addition, Continuing Jobless Claims (May 25) yielded a figure of 2.952M, relative to estimates calling for 2.975M.
Briefing the technicals, the pair is operating virtually unchanged on the day at 99.09/11. The Mataf.net analyst team has calculated the next short-term supportive measures for the USD/JPY at 99.58, ahead of 98.93 and 98.52. On the ascension, the pair will encounter resistance at 100.66, then 101.08, and finally 101.74.
According to the Technical Analyst Team at ICN.com, “The USD/JPY pair is trading close to key support level of the ascending channel, whereas it touched levels close to support 98.80, then stabilized again above 99.00. The bullish support level proved its strength but at the same time the pair didn’t take an upside move forcing us to be neutral in the U.S. session report, as we wait to see how the pair would react with the upside key support.”