The US dollar is trading lower against the Japanese yen currency on Friday as traders square positioning ahead of today’s Nonfarm Payrolls job report from the US economy. The USDJPY pair is intraday bearish while trading below the 114.06 level, although the medium-term trend still remains bullish. A breach of the 113.51 level exposes the USDJPY pair to further losses, while a strong move above the 114.06 should encourage technical buying.
The USDJPY pair is intraday bearish while trading below the 114.06 level, key support is now found at the 113.51 and 112.90 levels.
If the USDJPY pair moves above the 114.06 level, key resistance is found at the 114.58 and 115.00 levels.
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