USD/JPY Looks to Have Found Support, May Consolidate

        2150 GMT [Dow Jones] The USD/JPY looks like it has found a little bit of support around its current level of 102.24 and perhaps the moves lower Friday "were a little bit overdone" and the cross may just consolidate around this level during the session, says OM Financial Client Advisor Stuart Ive. He adds that with Japan on holiday Monday volumes may be light. The USD was hit hard Friday night as investors looked at the jobs participation rate, but Ive says that the non-farm payrolls "certainly wasn't a bad figure... The unemployment rate falling there may be a degree because they have given up looking for work but equally there would have been a larger number of people, who would drop off because they have employment." He puts support at 102.00, with resistance comes in at 102.60. (lucy.craymer@wsj.com;Twitter: @lucy_craymer)
        (END) Dow Jones Newswires

        May 04, 2014 17:50 ET (21:50 GMT)