US Unemployment Claims has looked solid in recent readings, but the key indicator jumped to 290 thousand, missing the estimate of 282 thousand. This marked a seven-week high for the key indicator. USD/JPY shrugged off the weak reading and continues to show little movement. On Friday, we’ll get a look at US retail and consumer confidence numbers, so we could see some movement from USD/JPY.
USD/JPY tested resistance at 115.75 in the Asian session. The pair is steady in European trade.
On the upside, 115.75 remains under pressure. 116.66 is stronger.
114.65 is providing strong support. USD/JPY is almost unchanged on Thursday. This is consistent with USD/JPY, which has shown little net movement on the day. The ratio currently has a majority of long positions, indicative of trader bias towards the US dollar moving higher.