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USD/JPY reaches 112.85 but slides to 114.50

FXStreet (San Francisco) - After a climb to new highs of 7 years in 114.85, the USD/JPY found selling interest that returned it back to trade at 114.50. All this following a good ADP employment report.

The US ADP employment rose by 230K in October, well above expectations and 2nd biggest increase in 2014. September data was revised up to 225K from 213K previously informed.

Currently, USD/JPY is trading at 114.52, up 0.77% on the day, having posted a daily high at 114.86 and low at 113.41. The hourly FXStreet OB/OS Index is showing extremely overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.

USD/JPY levels

If the pair extends rejection below 114.50, it will find next supports at 114.20 and 114.00. To the upside, resistances are at 114.80 and 115.00.

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