USD/JPY Under Pressure Ahead Of U.S. Nonfarm Payrolls
FxGrow | May 04, 2016 05:11AM ET
USD/JPY under pressure ahead of US nonfarm payrolls
The US dollar showed some gains against several major currencies, especially against the yen, after it touched 105.53 lows supported by talks from Fed policymakers yesterday.
Looking ahead, strong nonfarm payrolls data due on Friday will give the US dollar a bullish signal. Breaking 107.60 will make an end to the bearish move and continue rallying toward 108.15 and 108.50.
However, the USD/JPY needs to break the strong support level 105.85 in order to pave the way near next support points 105.50 and 105.20.
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