USD/JPY challenges 103.00 after US data

By FXstreet.com | July 31, 2014 AAA

FXStreet (Córdoba) - The USD/JPY moved slightly higher and printed fresh daily highs following the release of in line with expectations US jobless claims.



The number of people who applied for US unemployment benefits rose by 23K last week to 302K, in line with expectations. On the other hand, employment costs surge 0.7% in 2Q, the most in 6 years.



The USD/JPY received a boost from data but stalled just shy of the 103.00 mark. The pair has failed to break above the psychological level and it is currently trading at 102.95, recording a 0.17% gain on the day.



USD/JPY levels to watch



As for technical levels, the USD/JPY could find next resistances at 103.00 (psychological level), 103.08/10 (Jul 30 & Apr 8 highs) and 103.38 (Apr 7 high). On the flip side, supports are seen at the 102.07/04 zone (200- & 100-day SMAs), 101.81 (Jul 30 low) and 101.74 (Jul 29 low).



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