USDJPY BULLISH HEADED INTO THE NFP JOB REPORT
The U.S dollar retains a short-term bullish bias against the Japanese yen currency heading into this afternoons Non-Farm Payrolls job report, although the overall downtrend in the pair still prevails. The USDJPY pair continues to set new daily higher high’s, with buyers maintaining the price-action above the 109.20 area on pullbacks. Today’s job report from the United States economy should set the intraday directional bias, with the U.S dollar index also likely to place some role in the USDJPY price movements.
The USDJPY pair retains an intraday bullish bias while price trades above the 109.44 level, upside targets remain 110.18,110.58 and 110.88.
If the USDJPY pair falls below the 109.44 level, strong daily support is found at the 108.98 and 108.58 levels.