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  • The Greenback is on the back foot as the ADP came below forecast in the New York session.
  • The level to beat for sellers is the 107.00 support level.
 

USD/JPY daily chart

 
 
The USD/JPY currency pair is in a downtrend below the 100 and 200-day simple moving averages (SMAs). The spot is trading below the September highs and the 108.00 handle. This Wednesday, the ADP, the forerunner of the Nonfarm Payrolls on Friday, disappointed the market with only 135k vs. 140k expected in September.  
 

 

USD/JPY four-hour chart

 
 
USD/JPY is under pressure below the 108.40 level and the 50/100 SMAs. The break of 107.40 can expose the 107.00 support level to the downside, according to the Technical Confluences Indicator.  
 

USD/JPY 30-minute chart

 
 
USD/JPY is under pressure below the main SMAs, suggesting a bearish bias in the near term. Immediate resistances are seen at the 107.40 and 107.60 price levels, according to the Technical Confluences Indicator.  

 

Additional key levels