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5 Mar 2014
USD/JPY shrugs-off weak ADP data
FXStreet (Córdoba) - The USD/JPY moved a tad higher and printed a fresh weekly high even after the release of disappointing ADP employment data.
Private employment in the US rose by 139,000 in February after 127,000 the previous month and missing expectations of 160,000 new jobs. However, the USD/JPY managed to crawl higher and reached a high of 102.53 before easing slightly. At time of writing, the pair is trading at the 102.50 zone, recording a 0.3% gain on the day. Separated data showed the US services PMI rose to 53.3 in February.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen at 102.53/60 (Mar 5 & Feb 26 highs), 102.82 (Feb 21 high). On the flip side, supports are seen at 102.10 (Mar 5 low) and 101.80 (100-day SMA).
Private employment in the US rose by 139,000 in February after 127,000 the previous month and missing expectations of 160,000 new jobs. However, the USD/JPY managed to crawl higher and reached a high of 102.53 before easing slightly. At time of writing, the pair is trading at the 102.50 zone, recording a 0.3% gain on the day. Separated data showed the US services PMI rose to 53.3 in February.
USD/JPY levels to watch
In terms of technical levels, immediate resistances are seen at 102.53/60 (Mar 5 & Feb 26 highs), 102.82 (Feb 21 high). On the flip side, supports are seen at 102.10 (Mar 5 low) and 101.80 (100-day SMA).