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5 Jun 2013
USD/JPY falls to 99.31/33 after US ADP employment
FXstreet.com (Barcelona) - The USD/JPY tumbled lower Wednesday, after the tepid release of underwhelming US data.
In the United States, the ADP Employment Change (May) came in at 135K, against expectations of 165K. In addition, Nonfarm Productivity (Q1) yielded a figure of +0.5%, vs. projections calling for +0.7%. Finally, the Unit Labor Costs fell -4.3% in Q1, against estimates of +0.5%.
Briefing the technicals, the pair is operating at -0.73% in these moments at 99.31/33. The Mataf.net analyst team posits the next short-term supportive measures for the USD/JPY at 99.58, ahead of 98.93 and 98.52. Should the pair manage to erase its losses and mount a comeback, resistance lie ahead at 100.66, then 101.08, and finally 101.74.
In the United States, the ADP Employment Change (May) came in at 135K, against expectations of 165K. In addition, Nonfarm Productivity (Q1) yielded a figure of +0.5%, vs. projections calling for +0.7%. Finally, the Unit Labor Costs fell -4.3% in Q1, against estimates of +0.5%.
Briefing the technicals, the pair is operating at -0.73% in these moments at 99.31/33. The Mataf.net analyst team posits the next short-term supportive measures for the USD/JPY at 99.58, ahead of 98.93 and 98.52. Should the pair manage to erase its losses and mount a comeback, resistance lie ahead at 100.66, then 101.08, and finally 101.74.