Forex: USD/JPY peaks at 90.70 and pares gains after claims data

Thu, Mar 11 2010, 14:19 GMT
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FXstreet.com (Barcelona) - Dollar rebound from 90.20 session high has been halted at 90.70 high, and the Dollar has pulled down after a softer than expected decline on US initial jobless claims, dropping to 90.30 area.

Initial support level lies at 90.15/25 (Mar 8 low/session low), and below here, 89.85 (Mar 10 low) and 89.65 (Mar 9 low). On the upside, resistance levels lie at 90.70/80 (session high/Mar 10 high), and above here, 91.00 (Feb 22 low) and 91.40/50 (intra-day level/Feb 19 low).

US initial jobless claims have declined buy 6K to 462,000 from 468,000 in the week of March 6, a well lower decline that the market consensus, which called for a 13K decline to 455,000 claims.

USD/JPY

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