USD/JPY holds at 12-yr highs despite initial jobless claims rise

FXStreet (Córdoba) – USD/JPY remained little changed near 12 ½-year highs following the release of higher than expected US initial jobless claims.

US initial claims rose by 7,000 to 282,000 in the week ending May 23, from the previous week’s revised level of 275,000 and above the 270,000 expected.

Despite the miss in employment data, the dollar continued to trade at highs versus the yen, virtually unaffected. At time of writing, USD/JPY is trading at 124.15, recording a 0.46% gain on the day, having scored its highest level since late 2002 at 124.37 earlier today.

USD/JPY levels to watch

As for technical levels, next resistances are seen at 124.38 (12-year high May 28), 125.00 (psychological level) and 125.75 (Dec 2002 high). On the flip side, supports could be found at 123.48 (daily low), 122.77 (May 27 low) and 122.55 (100-hour SMA).

USD/JPY remained little changed near 12 ½-year highs following the release of higher than expected US initial jobless claims.


(Market News Provided by FXstreet)