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USD/JPY turns positive after US data, holds firm above 131.00

  • USD The dollar gains momentum ahead of the Wall Street open.
  • Applications for unemployment benefits fell more than expected.
  • USD/JPY is up over a hundred points from the monthly low it hit on Thursday.

The pair USD/JPY extended the rebound after the release of US economic data and is trading at a fresh daily high at 131.65. In Asian time, the pair bottomed at 130.39, the lowest level since February 10.

Data helps DXY bounce

The dollar was trying to stabilize and after the US data release it gained some momentum which helped the USD. The DXY was down just 0.10% near 102.50, having touched previous levels below 102.00.

Initial claims for jobless benefits fell by 1,000 during the week of March 18, to 191,000, against expectations for an increase to 201,000. Continuous requests fell by 14,000 during the week of March 18. Continuation Requests were down 14,000 in the week ending March 11, to 1,694,000. The figures show that the labor market remains tight. These figures show that the labor market remains tense.

The Chicago Fed National Activity Index (CFNAI) stood at -0.19 in February, down from 0.23 in January; forecasts were 0.

USD/JPY bounces

Yields in the US hit new all-time highs following the latest economic reports, although they are significantly below yesterday’s levels. The 10-year US Treasury yield topped 3.50%, while the 2-year yield approached 4%. The Japanese yen was slightly affected by the rebound in yield.

USD/JPY is around 131.50, in positive territory on the day, after rebounding from monthly lows. The pair tries to stay above the critical support of 130.50. The bias remains bearish.

technical levels


Last price today 131.23
Today Change Daily -0.23
today’s daily variation -0.17
today’s daily opening 131.46
daily SMA20 134.76
daily SMA50 132.51
daily SMA100 134.78
daily SMA200 137.43
previous daily high 133
previous daily low 131
Previous Weekly High 135.12
previous weekly low 131.56
Previous Monthly High 136.92
Previous monthly minimum 128.08
Fibonacci daily 38.2 131.77
Fibonacci 61.8% daily 132.24
Daily Pivot Point S1 130.64
Daily Pivot Point S2 129.83
Daily Pivot Point S3 128.65
Daily Pivot Point R1 132.64
Daily Pivot Point R2 133.82
Daily Pivot Point R3 134.64

Source: Fx Street

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