USD/JPY in the middle of the range near 113.30, ADP on sight

The greenback is trading almost unchanged vs. its American counterpart on Thursday, taking USD/JPY to the 113.30 area, the middle of the daily range.

USD/JPY attention to ADP, US data

Spot is meandering the upper end of the weekly range above the 113.00 handle for the time being, coming down from yesterday’s tops in the 113.70 region and always well sustained by the solid up trend in US yields, particularly the 10-year reference.

In fact, yields have been climbing almost uninterruptedly since the 2.12% level in late June to current levels above the 2.36% handle.

Looking ahead, the ADP report is due next and consensus expects the US private sector to have created 185K jobs during last month. Later in the session, initial claims and trade balance figures are due ahead of the ISM non-manufacturing.

In addition, market participants will follow the speech by President Trump in Poland ahead of the 2-day G-20 meeting over the weekend.

USD/JPY levels to consider

As of writing the pair is gaining 0.06% at 113.35 facing the next up barrier at 113.69 (high Jul.5) followed by 114.39 (high May 11) and finally 115.51 (high Mar.10). On the downside, a break below 112.56 (10-day sma) would aim for 112.26 (61.8% Fibo of the May-June drop) and then 111.57 (21-day sma).