USD/JPY capped below 97.50

FXstreet.com (Barcelona) - USD/JPY is last around 97.35 in early Tokyo trade, off session highs at 97.47, paring some of the losses the pair has seen Thursday, printing fresh 7-week lows at 95.89 by mid NY session. Nikkei index opens down -1.35% at 12729, off much lower lows printed in the futures market near the 12500 points mark.

As Valeria Bednarik notes, Chief Analyst at Fxstreet.com: “The hourly chart shows indicators heading back south after a limited correction, still in oversold territory. US employment data tomorrow needs to be outstandingly positive to reverse the bearish momentum of USD/JPY,” she remarks.

Valeria spots support levels at: 96.60, 96.10 and 95.70, while resistance levels at: 97.50, 97.90 and 98.40.