• USD/JPY inched higher on Wednesday as the dollar rallied across the board after stronger-than-expected U.S. private payrolls data boosted expectations of robust jobs report on Friday and possibly a faster pace of interest rate increases from the Federal Reserve.
   
• U.S. companies added 263,000 workers in March, suggesting a further tightening of the labor market, payrolls processor ADP said. The figure was the most since December 2014 and far exceeded expectations for a gain of just 187,000.
   
• The ADP report drew investors back into the market after a period of range-bound trading amid worries about President Donald Trump's ability to deliver on his policy plans after a recent legislative setback.
   
• Further downside is expected to be limited for this pair as strong support at 110.73 is set to limit downside and push the pair towards higher side.
   
• To the upside, the strong resistance can be seen at 112.08, a break above this level would take the pair towards next resistance level at 112.55.
   
• To the downside, immediate support can be seen at 111.15 a break below this level will open the door towards next level at 110.73.
  
  Resistance Levels
  
  R1: 111.58 (38.2% Retracement Level)
  
  R2: 112.08 (23.6% Retracement Level)
  
  R3: 112.55 (Feb 7th high)
  
  Support Levels
  
  S1: 111.15 (50% Retracement Level)
  
  S2: 110.73 (61.8% Retracement Level)
  
  S3: 110.24  (April 4th lows)