Forex: USD/JPY: The Dollar reaches levels above 99.00 after ADP

Wednesday, May 6, 2009

The Dollar has strengthened after better than expected ADP figures, and USD/JPY has jumped from 98.25 to a new intra-day high at 99.08. At the moment, the Dollar struggles with resistance level at 99.00/10.

In case of breaking above 99.00/10, the Dollar might find resistance at 99.65 (Mar 4 high) and than at 100.00. On the downside, support levels remain at 98.50/60 and below tthere, 98.25 and 98.00.

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