USD/JPY weaker on US ADP, data

  • US ADP report matched expectations.
  • Spot unchanged in the low-112.00s.
  • Attention now shifted to payrolls on Friday.

The greenback is trading with moderate losses vs. the Japanese safe haven on Wednesday, with USD/JPY meandering the low-112.00s for the time being.

USD/JPY unchanged on data

The pair manages well to keep the trade above the 112.00 mark after US ADP showed the private sector added 190K jobs during November, in line with initial forecasts.

Further US data saw nonfarm productivity expanding 3.0% inter-quarter in Q3 and unit labor costs contracting 0.2% QoQ in the same period.

Spot remains under extra downside pressure stemming from the US money markets, where yields of the 10-year benchmark are testing lows in the boundaries of the 2.32% handle.

USD/JPY levels to consider

As of writing the pair is down 0.48% at 112.07 and a breach of 112.00 (low Dec.5) would open the door to 111.90 (38.2% Fibo of 107.33-114.73) and then 111.68 (200-day sma). On the other hand, the next up barrier is located at 112.77 (55-day sma) seconded by 112.88 (high Dec.5) and finally 113.09 (high Dec.4).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.