USD/JPY bid despite mixed performance on Wall Street

Currently, USD/JPY is trading at 115.55, down -0.01% on the day, having posted a daily high at 115.66 and low at 115.07.

USD/JPY is better bid despite a poorer performance on Wall Street and a weaker dollar overnight where yields were lower and US data mixed ahead of the all eyes on nonfarm payrolls showdown tonight.

Economic wrap: watching US jobs - Westpac

"Even though the minutes of yesterday’s December FOMC illustrated that many policy-makers maintain a constructive outlook for the US economy, the recognition of “considerable uncertainty about the timing, size and composition of any future fiscal and other economic policy initiatives” was a factor behind the overnight sell off in the USD. The move lower in the USD adds weight to the view that there is already a lot of optimism about fiscal expansion in the US in the price.  The USD’s current sensitivity to negative news is also highlighted by the fact that the efforts made by the Chinese authorities to strengthen the value of the CNY vs. the USD also appears to have had a wider impact on sentiment surrounding the USD," explained analysts at Rabobank. 

Nonfarm Payrolls Preview: could surprise to the upside, but still not be enough to save the greenback

USD/JPY levels

With spot trading at 115.56, we can see next resistance ahead at 115.57 (Daily Open), 115.57 (Weekly Low), 115.66 (Daily High), 115.73 (Daily Classic S3) and 115.92 (Hourly 20 EMA). Support below can be found at 115.22 (Yesterday's Low), 115.13 (Weekly Classic S2), 115.07 (Daily Low), 114.22 (Weekly Classic S3) and 113.76 (Monthly Low).