USDJPY - Long - Key Support Level

2 Eki 2019

USDJPY has held up at the key support level of 107.134 as equity markets have fallen in past couple days over poor global economic data in particular coming out of the US. Lower than expected US ISM Manufacturing and ADP employment change figures have led to odds of an October rate cut increasing therefore a weak payroll number which could put pressure on the US dollar consequently leading to further downside towards 105.