USD/JPY regains 107.00 as dollar recovers

By FXStreet USD/JPY regained the 107 mark during the New York session and approached Asian highs as the greenback managed to take back losses across the board.

Despite ADP reported US private sector created 156K new jobs in April, marking its lowest level in two years, ISM Non-manufacturing, Makit’s Services PMI and Trade Balance all surpassed expectations.

The US dollar weakened as the knee-jerk reaction to ADP data, but then bounced, with USD/JPY climbing from a low of 106.23 to a session peak of 107.18. At time of writing, the pair is trading at 107.07, up 0.48% on the day.

USD/JPY levels to consider

In terms of technical levels, next resistances could be found at 107.44 (May 4 high), 108.19 (Apr 29 high) and 108.87 (20-day SMA). On the flip side, supports are seen at 106.24 (May 4 low), 105.54 (May 3 low) and 105.21 (200-week SMA).
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Source:: FX Street