3 Dec 2014
USD/JPY retreats after ADP miss
FXStreet (Córdoba) - USD/JPY came under pressure and cut intraday gains after data showed US private sector added fewer jobs than expected in November.
ADP report showed US private sector slowed in November, as 208,000 new jobs were added versus a gain of 233,000 the previous month. The reading also came in below consensus of 221,000. Dollar weakened slightly on the back of the figures but remained within recent ranges.
USD/JPY pulled back to 119.25 from 119.37 pre data, trimming daily gains. At time of writing, the pair is trading at 119.28, still a few pips above its opening price.
USD/JPY levels to watch
In terms of technical levels, next supports are seen at 119.12 (daily low), 119.00 (psychological level) and 118.30 (10-day SMA). On the flip side, resistances could be found at 119.47 (2014 high Dec 3) and 119.76 (Aug 9 2007 high) ahead of 120.00 (psychological level).
ADP report showed US private sector slowed in November, as 208,000 new jobs were added versus a gain of 233,000 the previous month. The reading also came in below consensus of 221,000. Dollar weakened slightly on the back of the figures but remained within recent ranges.
USD/JPY pulled back to 119.25 from 119.37 pre data, trimming daily gains. At time of writing, the pair is trading at 119.28, still a few pips above its opening price.
USD/JPY levels to watch
In terms of technical levels, next supports are seen at 119.12 (daily low), 119.00 (psychological level) and 118.30 (10-day SMA). On the flip side, resistances could be found at 119.47 (2014 high Dec 3) and 119.76 (Aug 9 2007 high) ahead of 120.00 (psychological level).