USD/JPY Sidelined Near 109.00 Post-ADP

USD/JPY Sidelined Near 109.00 Post-ADP

2 June 2016, 14:34
Roberto Jacobs

USD/JPY Sidelined Near 109.00 Post-ADP

USD/JPY remains entrenched in the red territory today, bouncing off lows near 108.80 and looking to stabilized in the 109.00 neighbourhood.

USD/JPY attention to Fedspeak

The pair remained apathetic after the US private sector has created 173K jobs during May, practically in line with the forecasted 175K gain and up from April’s 166K (revised higher from 156K).

Further data saw Initial Claims at 267K vs. 270K expected, taking the 4-Week Average to 276.7K from 278.5K previous.

Ahead in the session, USD will remain in the limelight following the press conference by M.Draghi after the ECB left unchanged its monetary stance, and speeches by FOMC’s Powell, Dudley and Kaplan.

USD/JPY levels to watch

As of writing the pair is losing 0.52% at 108.98 facing the immediate support at 105.52 (2016 low May 3). On the other hand, a breakout of 111.45 (high May 30) would open the door to 111.92 (high Apr.28) and finally 112.24 (100-day sma).


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