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4 Feb 2015
USD/JPY gains after US ADP report
FXStreet (Mumbai) - The USD/JPY pair rose to 117.60 levels despite the US ADP report for January printing at the lowest level since 2014.
Yen resilient despite rise in the Treasury yields
The 10-year Treasury yield has shot higher to 1.831% despite which the USD/JPY struggled to extend gains. The ADP report came-in at 213K, missing the expected print of 225K. However the previous month’s figure was revised upwards to 253K from 241K.
The rise in the treasury yield pushed the USD/JPY pair from 117.40 levels to 117.60 levels. However, the gains have been capped due to weakness in the US equity futures.
USD/JPY Technical Levels
The immediate resistance is seen at 117.77 (hourly 200-SMA), above which gains could be extended to 118.00 levels. On the flip side, support is seen at 117.22 and 116.86 levels.
Yen resilient despite rise in the Treasury yields
The 10-year Treasury yield has shot higher to 1.831% despite which the USD/JPY struggled to extend gains. The ADP report came-in at 213K, missing the expected print of 225K. However the previous month’s figure was revised upwards to 253K from 241K.
The rise in the treasury yield pushed the USD/JPY pair from 117.40 levels to 117.60 levels. However, the gains have been capped due to weakness in the US equity futures.
USD/JPY Technical Levels
The immediate resistance is seen at 117.77 (hourly 200-SMA), above which gains could be extended to 118.00 levels. On the flip side, support is seen at 117.22 and 116.86 levels.