The USD/JPY is looking for relief, dropping into 148.40. Broad-market risk appetite is cautiously stepping forward, limiting US Dollar gains on data beats. The Yen has been trading gently after Tuesday's mystery chart surge. in better than expected, showing 207 thousand new unemployment benefits seekers, below the market forecast of 210K. Challenger Job Cuts also improved, with 47.457 thousand announced job cuts compared to the previous 75.151K.
USD/JPY technical outlook Despite Thursday's chart softening, the USD/JPY remains firmly entrenched deep in bullish territory, with the pair up over 8% from the last bottom near 137.25 back in July. The long-term bullish US Dollar trend remains firmly intact, with the 100-day Simple Moving Average far below current price action, pushing towards the topside near the 144.00 psychological level. The year's highs are close by at 150.
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Source: FXStreetNews - 🏆 14. / 72 Read more »