USD/JPY off highs, returned to 103.60

The greenback keeps its march north unabated during the second half of the week, now sending USD/JPY to fresh highs around 103.80.

USD/JPY attention to US data

Spot is advancing to multi-day tops near 103.80, extending at the same time the rebound from lows seen in late September in the proximity of the psychological 100.00 handle.

The continuation of the selling bias around the Japanese safe haven plus increased bid tone in the buck following recent auspicious results remains the exclusive drivers behind the pair’s price action for the time being, all amidst a curious silence from BoJ officials and swelling bets on a Fed’s rate hike in December.

Later in the NA session, US Initial Claims are due ahead of the more relevant Non-farm Payrolls and Unemployment Rate due tomorrow. Market consensus sees the US economy to have added more than 170K jobs during September, while the jobless rate is seen unchanged at 4.9%.

USD/JPY levels to consider

As of writing the pair is gaining 0.14% at 103.65 and a breakout of 104.33 (high Sep.2) would open the door to 107.48 (high Jul.21) and finally 108.38 (200-day sma). On the other hand, the next support is located at 102.02 (55-day sma) followed by 101.76 (20-day sma) and finally 100.07 (low Sep.22).