News & Analysis at your fingertips.

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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here:
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here:
  • What's the difference between leading and lagging indicators? Find out from here:
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here:
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here. #DailyFXGuides
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here:
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
USD/JPY Fails to Break Above Range Despite Strong Rise in Consumption

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

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 .

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