US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday at 12:30 GMT. Indicator Background Unemployment claims is important economic indicator of consumer confidence in the economy. It helps measure future spending behavior, as more jobs leads to increased spending. In turn, an increase in consumer spending sends a strong signal that the economy is healthy and growing. The previous release came in at 374 thousand unemployment claims,  below the market forecast of 385K. . This represented a seven-month high for the indicator. This week’s estimate stands at 379K. Will the indicator again beat the market estimate? Sentiments and levels In the long run,  US/JPY has room  for rises. However, the weak global economy, ranging from Europe to China, increases yen flows. The possibility of QE3 in the US continues to weigh on the pair, especially after the unexciting NFP. So, the sentiment is neutral on USD/JPY towards this release. Technical levels, from top to bottom: 80.20, 80, 79.70, 7910, 78.30 and 77.50. 5 Scenarios Within expectations: 374K to 386K: In such a case, USD/JPY is likely to rise within range, with a small chance of breaking higher. Above expectations: 367K to 373K: An unexpected lower reading can send the pair above one resistance line. Well above expectations: Below 367K:  Lower unemployment numbers would be bullish for the dollar. Two or more lines of resistance might be broken on such an outcome. Below expectations: 387K to 393K: A poor reading could push USD/JPY lower, and one support level could be broken. Well below expectations: Above 393K. In this scenario, the pair could break below two or more support levels. For more on the yen, see the USD/JPY forecast.  Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next EUR/USD/July 11 Eurogroup Meeting Disappoints, Markets Await Fed Minutes Kenny Fisher 10 years US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday at 12:30 GMT. Indicator Background Unemployment claims is important economic indicator of consumer confidence in the economy. It helps measure future spending behavior, as more jobs leads to increased spending. In turn, an increase in consumer spending sends a strong signal that the economy is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
