USD/JPY slips to lows near 118.30, ADP eyed

By FXStreet FXStreet (Edinburgh) – The ongoing risk aversion continues to lend support to the Japanese currency on Wednesday, dragging USD/JPY to fresh lows near 118.30.

USD/JPY attention to US ADP

The solid tone around the safe have JPY keeps weighing on the pair, which is already trading in the low-118.00s, near 3-month lows and on track to test October’s lows at 118.06 level.

Next of relevance for the pair will be the ADP report, Factory Orders and the FOMC minutes in the US economy.

USD/JPY levels to consider

As of writing the pair is retreating 0.59% at 118.32 facing the next support at 118.06 (low Oct.15) followed by 116.46 (low Aug.24) and then 115.82 (low Jan.16 2015). On the flip side, a breakout of 120.77 (high Dec.30) would open the door to 121.04 (100-day sma) and finally 121.61 (200-day sma).
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Source:: FX Street