Forex: USD/JPY: Dollar extends recovery to test 90.25 level after claims data

By @ibtimes on

FXstreet.com (Barcelona) - The Dollar has bounced from the floor of the current week's trading range, at 89.65, to reach test range top at 90.25 after the release of better than expected U.S. initial jobless claims.

At the moment of writing, the pair trades at 90.15, with next resistance level at 90.25 (Nov 9 high), and above here, 90.85 (Nov 5 high) and 91.00/05. On the downside, support levels lie at 89.60/65 (Nov 6 low/session low), and below here, 89.15/30 (Nov 2/11 lows) and 88.85 (Oct 14 low).

Initial jobless claims have declined by 12 K in the week of November 7th to 502K, well beyond the 2K decline forecasted by market analysts, while continuing claims have dropped by 139K to 5,631.000 k in the week of October 31st.

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