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USD/JPY erases losses after strong claims data
FXStreet (Córdoba) – USD/JPY shot higher and erased intraday losses as the greenback strengthened broadly following the release of strong US jobless claims data.
US initial jobless claims hit lowest level since November 1973
US initial jobless claims dropped to 255,000 in the week ending July 18, hitting its lowest level since Nov 1973. Separated data showed Chicago National activity index rose 0.08% in June versus -5.0% expected.
USD/JPY quickly moved back above 124.00 and reached a session high of 124.09, although the dollar lacked momentum to break above the 124.15 zone, which has capped the upside over the last sessions. At time of writing, the pair is trading at 124.05, just a few pips above its opening price, having recovered from a low of 123.66 scored during the European session.
USD/JPY key levels
If USD/JPY manages to break decisively above 124.15, next resistances could be faced at 124.47 (Jul 21 high) and 124.60 (Jun 10 high). On the downside, next supports are seen at 123.66 (Jul 23 low), 123.56 (Jul 22 low) and 123.25 (Jul 15 low).
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USD/JPY erases losses after strong claims data
Source: FXStreet
