USD/JPY Current price: 102.88
View Live Chart for the USD/JPY
Poor ADP backs the JPY. The USD/JPY pair regained the 113.00 figure early Europe, trading as high as 113.16 before the release of the US ADP survey, which missed expectations and helped the JPY to recover some ground. The pair however, is trading above its 100 DMA, for the first time since February this year, although the lack of follow-through makes buying against it quite risky at the moment. Short term, the 1 hour chart shows that the price remains far above its moving averages, but that the momentum indicator diverges lower, posting lower highs and aiming to enter negative territory, while the RSI indicator retreated from overbought levels and heads south around 56, not enough to confirm a stronger decline. In the 4 hours chart, technical indicators are turning south within overbought territory, also indicating some short term upward exhaustion. Below 102.60 the pair could correct lower and approach the 102.00 figure, particularly if upcoming US data beats expectations.
Support levels: 102.60 102.20 101.65
Resistance levels: 103.15 103.45 103.80
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