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13 Mar 2014
USD/JPY back to flat line after US data
FXStreet (Córdoba) - The USD/JPY continues to trade within a narrow range below 103.00 as the pair showed virtually no reaction to the latest string of upbeat US data.
The USD/JPY moved slightly higher after data, rising back to the 102.80 zone and erasing intraday losses. US jobless claims fell to 315,000 last week versus 320,000 expected, while February retail sales rose 0.3% versus 0.2% forecast, adding to the upbeat sentiment regarding the US economy and boosting the dollar across the board.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 102.85 (Mar 13 high), 103.00 (psychological level) and 103.40 (Mar 10 & 11 highs). On the flip side, supports are seen at 102.40 (Mar 13 low/20-day SMA), 102.10 (100-day SMA) and 102.00 (psychological level).
The USD/JPY moved slightly higher after data, rising back to the 102.80 zone and erasing intraday losses. US jobless claims fell to 315,000 last week versus 320,000 expected, while February retail sales rose 0.3% versus 0.2% forecast, adding to the upbeat sentiment regarding the US economy and boosting the dollar across the board.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find immediate resistances at 102.85 (Mar 13 high), 103.00 (psychological level) and 103.40 (Mar 10 & 11 highs). On the flip side, supports are seen at 102.40 (Mar 13 low/20-day SMA), 102.10 (100-day SMA) and 102.00 (psychological level).