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2 Oct 2013
USD/JPY consolidates at 1-month lows
FXstreet.com (Córdoba) - The USD/JPY came under pressure Wednesday and dropped to a fresh 1-month low as the ongoing US budget issues continue to weigh on market sentiment.
The USD/JPY has extended its decline into a second day, having lost over 150 pips ever since peaking at 98.72 before the US shutdown went operative. Later during the New York session, the ADP employment report will take special attention as Friday's non-farm payrolls are (at least by now) off due to the government shutdown.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at 97.35, recording a 0.6% loss on the day. In terms of technical levels, USD/JPY could find immediate supports at 97.25 (daily low) and 97.00 (psychological level) ahead of 96.81 (Aug 28 low). On the flip side, resistances are now seen at 98.09 (daily high), 98.72 (Oct 1 high) and 98.90 (100-day SMA).
The USD/JPY has extended its decline into a second day, having lost over 150 pips ever since peaking at 98.72 before the US shutdown went operative. Later during the New York session, the ADP employment report will take special attention as Friday's non-farm payrolls are (at least by now) off due to the government shutdown.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at 97.35, recording a 0.6% loss on the day. In terms of technical levels, USD/JPY could find immediate supports at 97.25 (daily low) and 97.00 (psychological level) ahead of 96.81 (Aug 28 low). On the flip side, resistances are now seen at 98.09 (daily high), 98.72 (Oct 1 high) and 98.90 (100-day SMA).