USD/JPY jumps above 103.80 after stronger US data

By FXstreet.com | August 28, 2014 AAA

FXStreet (San Francisco) - The USD/JPY is currently trading higher following the US GDP data that was revised up to 4.2% in Q2 from 4.0% previously informed. However the movement was limited as pair is acting accordingly with current quietness in currency market.



US GDP was revised to 4.2% in the Q2 from 4.0% previously reported. Initial jobless claims registered 298K new claims, little below expected of 300K.



Currently, USD/JPY is trading at 103.78, down -0.10% on the day, having posted a daily high at 103.94 and low at 103.56. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.



USD/JPY sentiment



If the pair consolidates gains above 103.80, next resistance will come at 104.00 and key 104.10/25 area. On the downside, supports are at 103.55, 103.50 and 103.40.



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