USD/JPY chart - Trading View
USD/JPY trades 0.21% lower on the day at 108.23 at 03:55 GMT, bias bearish.
Disappointing ADP employment data which ramped up the expectations of a Fed rate cut weighs.
Technical indicators are biased lower. Recovery capped at 108.46 (nearly converged 1H 110-EMA and 2H 55-EMA.
Momentum with the bears. Stochs and RSI are sharply lower. 5-DMA is biased lower.
Major trend remains bearish and next major support lies at 61.8% Fib at 107.61. Breach there eyes 78.6% Fib at 106.31.
Focus on Trade Balance and Jobless Claims data for further impetus.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
