Home USD/JPY technical analysis: Greenback is trading at four-day lows against Yen after disappointing ADP
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USD/JPY technical analysis: Greenback is trading at four-day lows against Yen after disappointing ADP

FX Street
Updated:
  • USD/JPY is on the back foot as ADP weighs on the US Dollar.  
  • The level to beat for sellers is the 107.40 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 108.00 handle and the 50/100 SMAs. A break of 107.40 can expose the 107.00 support level, according to the Technical Confluences Indicator.  
 

USD/JPY 30-minute chart

 
 
USD/JPY is trading below the main SMAs, suggesting a downward bias in the near term. Immediate resistances are seen at the 107.60 and 108.00 price levels, according to the Technical Confluences Indicator.  
 

Additional key levels

 

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