Back
28 Mar 2013
Forex: USD/JPY eases to 94.20 on US GDP
FXstreet.com (Barcelona) - The cross posted a short-lived knee-jerk reaction to the area of 94.20 after the US economic activity posted an annualized expansion of 0.4% during the fourth quarter of 2012, banging on forecasts and lower than the previous 3.1% advance.
Further US data showed that Initial Claims rose to 357K in the week ended on March 24, exceeding the 340K estimated.
At the moment, the cross is down 0.12% at 94.26 and a dip beyond 93.88 (low Mar.28) would clear the way to 93.81 (Kijun-Sen line) and then 93.53 (low Mar.25).
On the flip side, resistance levels are located at 94.43 (MA100h) followed by 94.80 (Tenkan line) en route to 94.6 (MA200h).
Further US data showed that Initial Claims rose to 357K in the week ended on March 24, exceeding the 340K estimated.
At the moment, the cross is down 0.12% at 94.26 and a dip beyond 93.88 (low Mar.28) would clear the way to 93.81 (Kijun-Sen line) and then 93.53 (low Mar.25).
On the flip side, resistance levels are located at 94.43 (MA100h) followed by 94.80 (Tenkan line) en route to 94.6 (MA200h).