Back
2 Apr 2014
USD/JPY testing lows near 103.60
FXStreet (Edinburgh) - The USD/JPY is now deflating to the lower end of the intraday range, hovering over 103.65/60.
USD/JPY lower post-ADP
The pair found decent support around 103.60 after the ADP report showed that the US private sector created 191K jobs during March, a tad lower than the 195K expected albeit bettering February’s print (178K). “We still think the sharp drop in demand that it is coming will warrant additional BOJ easing to ensure inflation expectations do not start to drift lower again. BOJ easing will be key for USD/JPY going higher, like we expect, along with the better US economic picture”, observed Derek Halpenny, Head of Global Markets Research at BTMU.
USD/JPY levels to consider
As of writing the pair is losing 0.03% at 103.60 with the next support at 103.10 (high Mar.12) ahead of 103.09 (low Apr.1) and finally 102.73 (low Mar.31). On the upside, a break above 103.93 (high Apr.2) would open the door to 103.97 (low Jan.22) and then 104.00 (psychological level).
USD/JPY lower post-ADP
The pair found decent support around 103.60 after the ADP report showed that the US private sector created 191K jobs during March, a tad lower than the 195K expected albeit bettering February’s print (178K). “We still think the sharp drop in demand that it is coming will warrant additional BOJ easing to ensure inflation expectations do not start to drift lower again. BOJ easing will be key for USD/JPY going higher, like we expect, along with the better US economic picture”, observed Derek Halpenny, Head of Global Markets Research at BTMU.
USD/JPY levels to consider
As of writing the pair is losing 0.03% at 103.60 with the next support at 103.10 (high Mar.12) ahead of 103.09 (low Apr.1) and finally 102.73 (low Mar.31). On the upside, a break above 103.93 (high Apr.2) would open the door to 103.97 (low Jan.22) and then 104.00 (psychological level).