USD/JPY continued to be weighed between the 84.10 and 84.20 range for a large part of the day. The pair, however, jumped over 20 pips and posted a session high at 84.33. The upward movement was primarily a result of bigger-than-expected decline in the US initial jobless claims. Although the data is favorable, it is still indicative of a sluggish US labor market growth.
At the time of writing, USD/JPY remains near the 84.30 zone. Immediate resistance level lies at 84.43, while the support level is placed at 84.22.