FxWirePro: USD/JPY holds above 100 handle, strong support seen at 99.60
Friday, August 19, 2016 5:15 AM UTC
- USD/JPY edges above the 100 handle as the ongoing broad-based recovery in the greenback gained further traction.
- Data released overnight showed US jobless claims for the week to 13 Aug fell to 262k, slightly better than the 265k expected.
- Philadelphia Fed business activity bounced from -2.9 to +2.0, as expected, although the components were weaker than the headline suggested.
- The Conference Board’s leading economic indicators index rose 0.4 percent in July, vs 0.3 percent expected.
- USD bears take a breather, focus now on next week's macro updates including US GDP data.
- Momentum studies are neutral, techs are inconclusive and hence we would prefer to remain on sidelines for now.