Chart - Courtesy Trading View USD/JPY was trading 0.07% higher on the day at 114.31 at around 05:15 GMT, extending previous session's marginal gains. Data released overnight showed US Initial Jobless Claims printed at 26…
USD/JPY was trading 0.07% higher on the day at 114.31 at around 05:15 GMT, extending previous session's marginal gains.
Data released overnight showed US Initial Jobless Claims printed at 268K citizens, more than the 260K foreseen by analysts.
Fespeak, inflation talks and Evergrande updates will be the key to watch for fresh direction.
In its latest assessment of the Chinese property sector, Moody’s noted that property developers’ liquidity stress will continue given tight credit conditions and lower sales.
Further, news from Tokyo about the COVID-19 stimulus package aimed to cushion Japan’s pandemic-hit economy buoys sentiment.
Major Support Levels:
S1: 113.94 (200H MA)
S2: 113.88 (20-DMA)
S3: 113.79 (21-EMA)
Major Resistance Levels:
R1: 114.31 (5-DMA)
R2: 114.70 (Upper BB)
R3: 114.97 (Monthly high)
Summary:
USD/JPY trades with a bullish technical bias. GMMA indicator shows major and minor trend are bullish. The pair is on track to test 115 levels.
