- Japanese yen among top performers as US yields flat.
- DXY bearish for the day but far from lows.
- USD/JPY is headed for the lowest daily close in a month.
The USD/JPY it fell further during the US session and bottomed at 113.95, the lowest level in six days. The move lower took place amid a stronger Japanese yen across the board and despite higher stock prices on Wall Street.
Unexpected spike in jobless claims
US economic data showed initial jobless claims hit 286,000, the highest level in three months, the Philadelphia Fed trade outlook rose more than expected to 23.2 from 15.4 and home sales stocks fell 4.6% in December. The figures weighed on the US dollar and supported the rally in share prices.
Next week, the Federal Reserve will have its two-day meeting and will announce its decision on Wednesday. Market participants await signs of a rate hike in March. The dollar has been rising on those speculations, losing momentum in early January.
USD/JPY is correcting lower and a daily close below 114.00 should point to further weakness from a technical perspective. The next support lies at 113.50. On the upside, a recovery above 114.95 (20-day moving average) would be a sign that the correction is over.
Technical levels
USD/JPY
| Panorama | |
|---|---|
| Last Price Today | 114.13 |
| Today’s Daily Change | -0.15 |
| Today’s Daily Change % | -0.13 |
| Today’s Daily Opening | 114.28 |
| Trends | |
|---|---|
| 20 Daily SMA | 114.98 |
| 50 Daily SMA | 114.33 |
| 100 Daily SMA | 113.15 |
| 200 Daily SMA | 111.42 |
| levels | |
|---|---|
| Previous Daily High | 114.79 |
| Previous Daily Minimum | 114.21 |
| Previous Maximum Weekly | 115.85 |
| Previous Weekly Minimum | 113.48 |
| Monthly Prior Maximum | 115.21 |
| Previous Monthly Minimum | 112.56 |
| Daily Fibonacci 38.2% | 114.43 |
| Daily Fibonacci 61.8% | 114.57 |
| Daily Pivot Point S1 | 114.06 |
| Daily Pivot Point S2 | 113.84 |
| Daily Pivot Point S3 | 113.48 |
| Daily Pivot Point R1 | 114.65 |
| Daily Pivot Point R2 | 115.01 |
| Daily Pivot Point R3 | 115.23 |
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