5 Aug 2015
USD/JPY falls after disappointing ADP employment report
FXStreet (Córdoba) - USD/JPY continued to pullback from highs and printed fresh daily lows as the dollar weakened following below expectations ADP employment data.
US ADP employment disappoints ahead of NFP
Automatic Data Processing (ADP) reported US private employment grew by 185K in July, missing expectations of 215K and below the revised 229K for June. Weak data comes two days before the nonfarm payrolls report and after the Fed said last week “some further improvement” is needed in the labor market before raising rates.
USD/JPY continued to retreat from highs and slid to a low of 124.00 after the release. At time of writing, the pair is trading at 124.15, still 0.17% below its opening price.
USD/JPY technical levels
As for technical levels, USD/JPY could find next supports at 123.79 (Aug 4 low), 123.55/51 (50-day SMA/Jul 31 low) and 123.32 (Jul 29 low). On the other hand, resistances are seen at 124.46 (Aug 5 high) and 124.57 (Jul 30 high).
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
US ADP employment disappoints ahead of NFP
Automatic Data Processing (ADP) reported US private employment grew by 185K in July, missing expectations of 215K and below the revised 229K for June. Weak data comes two days before the nonfarm payrolls report and after the Fed said last week “some further improvement” is needed in the labor market before raising rates.
USD/JPY continued to retreat from highs and slid to a low of 124.00 after the release. At time of writing, the pair is trading at 124.15, still 0.17% below its opening price.
USD/JPY technical levels
As for technical levels, USD/JPY could find next supports at 123.79 (Aug 4 low), 123.55/51 (50-day SMA/Jul 31 low) and 123.32 (Jul 29 low). On the other hand, resistances are seen at 124.46 (Aug 5 high) and 124.57 (Jul 30 high).
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!