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Forex: USD/JPY dips to session lows on ADP

FXstreet.com (Barcelona) - The renewed weakness of the greenback is dragging the cross to fresh intraday lows in the vicinity of 93.20/30 on Wednesday, after the ADP result disappointed traders. According to the ADP, the US private sector created 158K jobs vs. 200K forecasted.

The BoJ will finish its monetary policy meeting tomorrow, with market consensus expecting Governor Kuroda to embark in an aggressive easing in order to achieve the 2.0% inflation target.

At the moment, the cross is down 0.20% at 93.24 facing the next support at 93.10 (hourly support Mar.2) ahead of 92.57 (low Apr.2) and then 92.44 (low Mar.1).
On the upside, a breakout of 93.86 (Tenkan-Sen line) would expose 93.92 (Kijun-Sen line) and then the psychological level at 94.00.

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