USD/JPY edges lower after US data

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - The USD/JPY edged lower following the latest series of US data, although trading remained largely directionless.



US data showed initial jobless claims fell by 2,000 to 312,000 last week versus 310,000 expected. Personal income stood at 0.4% in May, while spending grew by 0.2% versus 0.4% expected. Core personal consumption expenditure (PCE) price index, Fed’s favourite gauge of inflation, rose 1.5% as expected.



The USD/JPY slid to a low of 101.67 immediately after the releases, but quickly bounced. At time of writing, the pair is trading at the 101.70 zone, still down 0.15% on the day.

USD/JPY technical levels



In terms of technical levels, the pair could find immediate supports at 101.60 (200-day SMA), 101.42 (May 29 low) and 101.09 (May 19 low). On the flip side, resistances are seen at 102.20 (100-day SMA), 102.32 (Jun 18 high) and 102.56 (Jun 10 high).



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