USD/JPY gains some positive traction on Friday and moves way from weekly lows. A goodish pickup in the USD demand seemed to be the only factor lending support. A combination of negative factors might cap the upside ahead of the US jobs report. The USD/JPY pair traded with a mild positive bias through the early European session and was last seen hovering near the top end of its daily range, around the 105.65 region. The pair gained some traction on the last day of the week and built on the previous day’s late rebound from weekly lows, around the 105.30 region. A goodish pickup in the US dollar demand was seen as one of the key factors lending some support to the USD/JPY pair. However, a combination of negative factors might hold investors from placing any aggressive bets and keep a lid on any further gains, at least for the time being. The global risk sentiment took a hit on Friday after the US President Donald Trump signed a pair of executive orders that would ban any US transactions with the Chinese companies that own TikTok and WeChat. The anti-risk flow was evident from a weaker trading sentiment around the equity markets, which might force investors to take refuge in traditional safe-haven assets and underpin demand for the Japanese yen. The global flight to safety was further reinforced by the ongoing downfall in the US Treasury bond yields. In fact, the yield on the benchmark 10-year US government bond dropped back closer to all-time closing lows. This coupled with concerns about the pace of the US economic recovery might hold the USD bulls from placing aggressive bets. Apart from this, the political stalemate over the shape and size of the next US fiscal recovery package might further contribute towards capping any strong gains for the USD/JPY pair. The US Treasury Secretary Steven Mnuchin warned on Thursday that Republicans and Democrats are still very far apart on key issues. Investors might also prefer to wait on the sidelines ahead of Friday’s release of the official US monthly jobs report, popularly known as NFP. This makes it prudent to wait for some strong follow-through buying before confirming that the USD/JPY pair might have bottomed out in the near-term and positioning for any further gains. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Futures: Keeps the red after China says it firmly opposes US orders against Tencent, Bytedance FX Street 2 years USD/JPY gains some positive traction on Friday and moves way from weekly lows. A goodish pickup in the USD demand seemed to be the only factor lending support. A combination of negative factors might cap the upside ahead of the US jobs report. The USD/JPY pair traded with a mild positive bias through the early European session and was last seen hovering near the top end of its daily range, around the 105.65 region. The pair gained some traction on the last day of the week and built on the previous day's late rebound from weekly lows, around the 105.30… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.