30 Apr 2014
USD/JPY slumps after weak US GDP
FXStreet (Córdoba) - The USD/JPY fell to fresh daily lows at the beginning of the American session after the US GDP came in much lower than expected in Q1.
US gross domestic product annualized rose 0.1% in the first quarter versus 1.2% expected from 2.6% at the end of 2013. The USD weakened broadly and shrugged-off upbeat ADP employment data, falling sharply to a low of 102.23 most recently.
USD/JPY technical levels
At time of writing, the USD/JPY is trading at 102.30, recording a 0.32% loss on the day. In term of technical levels, next supports are seen at 102.04 (Apr 28 low), 101.95 (Apr 25 low) and 101.80 (Apr 16 low). On the flip side, resistances could be found at 102.65 (Apr 30 high), 102.88 (100-day SMA) and 103.00 (psychological level).
US gross domestic product annualized rose 0.1% in the first quarter versus 1.2% expected from 2.6% at the end of 2013. The USD weakened broadly and shrugged-off upbeat ADP employment data, falling sharply to a low of 102.23 most recently.
USD/JPY technical levels
At time of writing, the USD/JPY is trading at 102.30, recording a 0.32% loss on the day. In term of technical levels, next supports are seen at 102.04 (Apr 28 low), 101.95 (Apr 25 low) and 101.80 (Apr 16 low). On the flip side, resistances could be found at 102.65 (Apr 30 high), 102.88 (100-day SMA) and 103.00 (psychological level).