31 Jul 2013
USD/JPY jumps on strong ADP report
FXstreet.com (Córdoba) - The USD/JPY saw a quick spike right after data showed the US private sector added 200K new jobs in July, exceeding market expectations of 182K.
USD/JPY regains 98.00
USD/JPY, which was trading at the 97.85 area just before the release, strengthened on the data and managed to regain the 98.00 mark to hit a fresh session high of 98.07 in recent dealings. However, dollar's buyers lacked determination to clear the 98.15 resistance level and Asian session highs. At time of writing, USD/JPY is trading around 98.00, virtually unchanged on the day.
USD/JPY technical levels
As for technical levels, USD/JPY could face immediate support levels at 97.57 (daily low), 97.20 (Jun 26 low) and the 97.00 psychological level. On the other hand, immediate resistance stands around 98.15 (daily high) followed by the 100-day SMA at 98.47.
ADP figures ahead of NFP
Besides July stronger-than-expected gain, ADP also revised June figure up by 10,000 to 198,000. The US Department of Labor will report the nonfarm payrolls on Friday, and economists expect employment to grow by 184,000 in July, below June's gain of 195,000.
USD/JPY regains 98.00
USD/JPY, which was trading at the 97.85 area just before the release, strengthened on the data and managed to regain the 98.00 mark to hit a fresh session high of 98.07 in recent dealings. However, dollar's buyers lacked determination to clear the 98.15 resistance level and Asian session highs. At time of writing, USD/JPY is trading around 98.00, virtually unchanged on the day.
USD/JPY technical levels
As for technical levels, USD/JPY could face immediate support levels at 97.57 (daily low), 97.20 (Jun 26 low) and the 97.00 psychological level. On the other hand, immediate resistance stands around 98.15 (daily high) followed by the 100-day SMA at 98.47.
ADP figures ahead of NFP
Besides July stronger-than-expected gain, ADP also revised June figure up by 10,000 to 198,000. The US Department of Labor will report the nonfarm payrolls on Friday, and economists expect employment to grow by 184,000 in July, below June's gain of 195,000.