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FXStreet (Mumbai) - The USD/JPY pair has formed a Doji candle, as it trades largely unchanged ahead of the weekly jobless claims and trade balance data in the US.
US data awaited, Weak yields weigh
The pair now trades largely unchanged for the day at 119.13 ahead of the data in the US, which could show the initial jobless claims in the last week dropped to 280K from 281K seen in the previous week.
In the meantime, the pair could not sustain at the high of 119.45 due to a 2.1 basis point drop in the 10-year treasury yield. Earlier today, the pair had bounced back from the low of 118.78 levels.
USD/JPY Technical Levels
The immediate resistance is seen at 119.31 (100-DMA), above which gains could be extended to 119.59 (5-DMA). On the flip side, a break below 119.00, could drive the pair lower to 118.70 levels.
