Forex: USD/JPY back and forth at 88.00/30 range
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USD/JPY
FXstreet.com (Barcelona) - The market is trading in a back and forth manner since re-conquering the 88.00 ground and finding resistance at 88.30 levels. The USDJPY is rangebound at 88.00/30, having spiked down to the psychological level on the New York opening, and now back at 88.20.
US initial jobless claims rose from 367K to 371K (consensus of 365K), while continuing claims eased from 3.236M to 3.109M (consensus of 3.230M). Market consensus was pointing to a 0.3% rise in US wholesale inventories in November, after having risen by 0.3% (revised from 0.6%) in the prior month. Actual data rose by 0.6%, beating expectations. Japan bank lending, trade balance and current account are due after the US close, at 23:50 GMT.
"The bias here remains positive for a break through 88.40 high, en route to 89.01 resistance area", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to crucial support at 87.71.
US initial jobless claims rose from 367K to 371K (consensus of 365K), while continuing claims eased from 3.236M to 3.109M (consensus of 3.230M). Market consensus was pointing to a 0.3% rise in US wholesale inventories in November, after having risen by 0.3% (revised from 0.6%) in the prior month. Actual data rose by 0.6%, beating expectations. Japan bank lending, trade balance and current account are due after the US close, at 23:50 GMT.
"The bias here remains positive for a break through 88.40 high, en route to 89.01 resistance area", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to crucial support at 87.71.
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