FxWirePro: USD/JPY extends sideways, US GDP/Jobless Claims awaited for impetus
Chart - Courtesy Trading View
USD/JPY was trading 0.41% higher on the day at 144.71 at around 10:30 GMT.
The major is extending sideways grind for the fourth straight session, hovers around 5-DMA.
A pickup in the US Treasury bond yields, bolstered by faster Fed rate hikes bets, acts as a tailwind for the greenback.
The risk-off impulse amid growing worries about a deeper global economic downturn also underpins the safe-haven buck.
Focus now on the release of the final Q2 GDP report and the usual Weekly Initial Jobless Claims data for impetus.
Major Support Levels:
S1: 144.33 (5-DMA)
S2: 143.80 (200H MA)
Major Resistance Levels:
R2: 145.72 (Upper BB)
Summary: USD/JPY shows signs of some pullback. Bearish RSI divergence and shrinking volatility raise scope for some downside. Major trend remains bullish.