USD/JPY takes back NFP-inspired losses

USD/JPY managed to climb back into the green following the knee-jerk slump that followed a below-expectations US nonfarm payrolls reading.

USD/JPY briefly dropped below the 103 mark and scored a low of 102.79 before changing course. The pair climbed almost a hundred pipos over the last minutes and reached a fresh daily high of 103.77 in recent dealings, and it was last at 103.60, recording a 0.37% gain on Friday.

USD/JPY levels to watch

In terms of technical levels, next supports are seen at 102.65 (50-day SMA), 101.82 (10-day SMA) and 101.00 (psychological level). On the flip side, resistances could be faced at 103.54 (Sep 2 high), 103.99 (Sep 1 high) and 105.36 (100-day SMA).