USD/JPY kept minor losses after disappointing US weekly jobless claims

The USD/JPY pair failed to extend its recovery momentum from session low and remained in negative territory following the release of US weekly jobless claims data. 

Currently trading around 114.30 region, the pair failed to gain fresh traction after data released from the US showed weekly jobless claims unexpectedly rose by 17,000 to 268K for the week ended Nov. 25. The reading was higher-than 253K expected and 251K reported in the previous week. 

Despite of the disappointing print, the pair remained within striking distance of 9-month high touched during early Asian session in the aftermath of optimism led by OPEC deal on Wednesday.

Next in focus would be US ISM manufacturing PMI, which is expected to have inched higher to 52.2 during November from 51.9 recorded in October, ahead of Friday's closely watched NFP data.

Technical levels to watch

On a sustained move back above 114.50 immediate resistance, the pair seems to make a fresh attempt towards multi-month high resistance near 114.80 region before aiming towards testing 115.00 psychological mark. On the downside, weakness below 113.85 level (session low) might now trigger a corrective slide immediately towards 113.40-35 horizontal support en-route 113.00 round figure mark.