USD/JPY Keeps Gains Aabove 107.00 on US Data
The greenback is clinging to its daily gains vs. its Japanese counterpart today, with USD/JPY navigating the low-107.00s following US releases.
USD/JPY now looks to Fedspeak
Spot
remained apathetic after US Initial Claims rose to 274K during the last
week, missing expectations and up from previous week’s 257K, taking the
4-Week Average to 258K (from 256K).
While spot has lost some of
its initial upside momentum, the greenback will remain the focus of
attention later today ahead of speeches by FOMC’s Bullard, Kaplan,
Lockhart and Williams.
USD/JPY levels to watch
As
of writing the pair is advancing 0.02% at 107.06 facing the next hurdle
at 108.83 (20-day sma) followed by 111.19 (55-day sma) and finally
111.92 (high Apr.28). On the flip side, a breakdown of 105.52 (2016 low
May 3) would open the door to 105.18 (monthly low Oct.2014) and then
101.97 (monthly low Aug.7 2014).
