We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
Oil - US Crude
More View more
Real Time News
  • The $JPY market faces a clear disconnect between domestic economic data and monetary policy. What if that were to change? Get your market update from @DavidCottleFX here:https://t.co/4Gr8tLaHvj https://t.co/0eXMv5CTnd
  • #Forex Forecast via @DailyFX: US Dollar Technical Outlook on $DXY, $AUDUSD, $USDCAD, $USDJPY & $EURUSD Full Analysis ⬇️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/11/17/usd-price-us-dollar-chart-forecast-dxy-audusd-usdcad-usdjpy-eurusd.html
  • Further escalation in Hong Kong will likely bode poorly for risk appetite https://t.co/0NjUd3ahBu
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Missed the episode? Read up here:https://t.co/JWIGJk4vKa https://t.co/WB39x4GP99
  • Poll - Does your personality match your #tradingstyle? Vote and find out from @WVenketas here: https://t.co/vREsUIWSJd https://t.co/Ft0ExAmMpq
  • #Dow Jones hits record high, however, central bank liquidity prompts volatility implosion. #FTSE 100 among underperformers with focus remaining on politics. Get your #equities market update from @JMcQueenFX here: https://t.co/EOFleGSeBp https://t.co/ecAyfSUeAM
  • RT @C_Barraud: 🇪🇺 #ECB’s Muller Says More Assets Could Join Stimulus List in Slump - Bloomberg https://t.co/roGEgu0VTQ
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Find out from @JStanleyFX here:https://t.co/O4dgBl47fq https://t.co/OQYqZAYt9S
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/WzRYeqRhUL
  • Despite what your #tradingstyle is, you should be keeping a trading journal. How can you start keeping a trading journal? Find out: https://t.co/0akgWbyJEw https://t.co/4ehMlN4zv1
USD/JPY Fails to Break Above Range Despite Strong Rise in Consumption

USD/JPY Fails to Break Above Range Despite Strong Rise in Consumption

2014-03-27 13:36:00
Baruch Spier,

Talking Points:

  • US GDP revised higher on strongest rise in consumption in 3-years
  • Initial jobless claims reported at the lowest in 3-months
  • USD/JPY fails to break above 6-day range top

Want to trade with proprietary strategies developed by FXCM? Find out how here.



Previous Estimate

Prior Period

Revision of Prior Period

GDP Annualized Q/Q

(4Q T)





Personal Consumption

(4Q T)





Initial Jobless Claims

(MAR 22)





Continuing Claims

(MAR 15)





United States growth was revised higher in the fourth quarter, as the quarterly rise in personal consumption was reported at the strongest in three-years for that period. GDP was reported to have risen 2.6% (annualized) in a final estimate by the Commerce Department, beating expectations for a 2.7% rise and up from a previous official estimate of 2.4% growth in the final quarter of 2013. Meanwhile, Initial Jobless Claims fell to 311 thousand for the week ending on March 22, the lowest initial claims in three months and well below expectations and the previous week.

US jobs data and economic performance has come into focus since Fed Chair Yellen said last week that the central bank may end quantitative easing this fall and may raise interest rates as soon as 6 months after that. Yellen said her projections depend on economic conditions, which means that tightening of Fed policy could happen sooner if the job market continues to improve and the economy strengthens further.

USD/JPY 1-Minute: March 27, 2014

USDJPY-Fails-to-Break-Above-Range-Despite-Strong-Rise-in-Consumption_body_Picture_1.png, USD/JPY Fails to Break Above Range Despite Strong Rise in Consumption

That’s why the US Dollar rose higher against the Yen following the announcement of better than expected consumption and jobless claims, but USD/JPY failed to break above the 6-day range top at 102.64. Currency Strategist Ilya Spivak said he is waiting for a close above 102.75 before positioning to enter USD/JPY long.

Chart created by Baruch Spier using Marketscope 2.0. Add DailyFX Support/Resistance to your charts at FXCM Apps.

-- Written by Baruch Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.