USD/JPY bulls in control ahead of NFP’s

FXStreet (Guatemala) - USD/JPY is well bid and has been a top performer, with the Yen taking hits on the back of the stock and share markets overnight in the US and European block. The theme in markets is favouring the greenback and we now await the release of the nonfarm payrolls that Valeria Bednarik, chief analyst at FXStreet is bullish about.

“A reading above 250K with no downward revisions to previous numbers and a steady or better unemployment rate, should only boost dollar rally across the board. If the number disappoints but stands anyway around 200K, dollar may ease short term, but market will rather see it as a buying opportunity than the beginning of a bearish run”.

USD/JPY noteworthy levels

Current price is 115.11, with resistance ahead at 115.28 (Daily Classic R1), 115.53 (Daily High), 115.69 (Weekly Classic R2), 115.80 (Daily Classic R2) and 116.73 (Daily Classic R3). Supports are 114.00, 114.60 which is key ahead of 114.40 and 114.05.