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8 Jan 2014
USD/JPY jumps after upbeat ADP
FXstreet.com (Córdoba) - The USD/JPY saw a quick spike toward the 105.00 as the greenback benefited from better than expected ADP December jobs data.
The ADP employment report showed the US private sector added 238,000 new jobs in December, beating forecast of 200,000. Meanwhile, November ADP jobs number was revised up 14,000 to 229,000. Data gave the USD a lift ahead of the Government nonfarm payrolls report, but gains were short-lived as pairs are back to pre-data levels. As for the USD/JPY it rose to 105.00 only to slide back to the 104.85 zone, where it is presently trading, still 0.3% above its opening price.
USD/JPY technical levels
Immediate resistances for USD/JPY are seen at 105.11 (daily high) and 105.44 (2014 high Jan 2). On the other hand, supports are seen at 104.60 (100-hour SMA), 104.16 (Jan 7 low) and 103.90 (Jan 6 low).
The ADP employment report showed the US private sector added 238,000 new jobs in December, beating forecast of 200,000. Meanwhile, November ADP jobs number was revised up 14,000 to 229,000. Data gave the USD a lift ahead of the Government nonfarm payrolls report, but gains were short-lived as pairs are back to pre-data levels. As for the USD/JPY it rose to 105.00 only to slide back to the 104.85 zone, where it is presently trading, still 0.3% above its opening price.
USD/JPY technical levels
Immediate resistances for USD/JPY are seen at 105.11 (daily high) and 105.44 (2014 high Jan 2). On the other hand, supports are seen at 104.60 (100-hour SMA), 104.16 (Jan 7 low) and 103.90 (Jan 6 low).