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2 Sep 2015
USD/JPY clings to 120.00 after ADP report
FXStreet (Córdoba) - USD/JPY barely moved following the release of mainly in line with expectations ADP employment data.
US private sector added 190K new jobs in August, according to Automatic Data Processing. Employment gain was expected to come in at 201K after a 185K increase in July (revised up from 177K).
Traders use ADP's data to get a proxy for the nonfarm payrolls report, which will be released Friday. However, the dollar was unaltered following the release and USD/JPY continued to trade quietly around the 120.00 level.
USD/JPY technical levels
At time of writing, USD/JPY is trading at 120.07, up 0.6% on the day, with immediate resistances seen at 120.45 (Sep 2 high) and 120.75 (200-day SMA) ahead of 121.00 (psychological level). On the flip side, supports are seen at 119.21 (Sep 2 low), 119.00 (psychological level) and 118.44 (Aug 26 low).
US private sector added 190K new jobs in August, according to Automatic Data Processing. Employment gain was expected to come in at 201K after a 185K increase in July (revised up from 177K).
Traders use ADP's data to get a proxy for the nonfarm payrolls report, which will be released Friday. However, the dollar was unaltered following the release and USD/JPY continued to trade quietly around the 120.00 level.
USD/JPY technical levels
At time of writing, USD/JPY is trading at 120.07, up 0.6% on the day, with immediate resistances seen at 120.45 (Sep 2 high) and 120.75 (200-day SMA) ahead of 121.00 (psychological level). On the flip side, supports are seen at 119.21 (Sep 2 low), 119.00 (psychological level) and 118.44 (Aug 26 low).