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USD/JPY held up on 109.20 key support

FXStreet (Guatemala) - USD/JPY is trading at 109.30, down -0.32% on the day, having posted a daily high at 110.10 and low at 109.13.

USD/JPY briefly broke above 110.00 but has subsequently faded into the 109.20 support that carries a history of strong support. The US data was overall disappointing, apart from an inline set of ADP employments numbers. In taking account overnight data from Japan, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the Tankan Q3 survey highlighted building strength in the manufacturing sector but a disappointing services sector and has fuelled a discussion on how JPY weakness is supporting manufacturing.

USD/JPY noteworthy levels

Current price is 109.30, with resistance ahead at 109.37 (Hourly 100 SMA), 109.50, 109.57 (Daily Classic PP), 109.61 (Hourly 20 EMA) and 109.64. Next support to the downside can be found at 109.27 (Daily Classic S1), 109.12 (Hourly 200 SMA) and 109.03 (Weekly Classic PP).

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