30 Oct 2013
USD/JPY hits fresh lows after ADP report
FXstreet.com (Córdoba) - The USD/JPY dropped to fresh daily lows at the beginning of the New York session as the dollar weakened after the ADP employment report showed the US private sector added fewer jobs than expected in October.
US private-sector gained 130,000 jobs in October, against 150,000 expected, while the September figure was downwardly revised. The USD/JPY came under pressure and printed a marginal new low of 98.07 before bouncing back to pre-data levels. USD/JPY is currently trading at 98.15, virtually unchanged since opening and having spent most of the day in a slim range within 98.10/98.30.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate resistances at 98.30 (daily high), 98.37 (100-day SMA) and 98.47 (Oct 22 high). Meanwhile, next supports are seen at 98.07 (daily low) and 97.75 (21-day SMA).
US private-sector gained 130,000 jobs in October, against 150,000 expected, while the September figure was downwardly revised. The USD/JPY came under pressure and printed a marginal new low of 98.07 before bouncing back to pre-data levels. USD/JPY is currently trading at 98.15, virtually unchanged since opening and having spent most of the day in a slim range within 98.10/98.30.
USD/JPY levels to watch
In terms of technical levels, USD/JPY could find immediate resistances at 98.30 (daily high), 98.37 (100-day SMA) and 98.47 (Oct 22 high). Meanwhile, next supports are seen at 98.07 (daily low) and 97.75 (21-day SMA).