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  • The Greenback is trading flat against the Yen, but higher lows are pricing in ahead of US NFP.
  • The price action is trading tightly with the 50-hour EMA as consolidation draws out.
  • Technical indicators are mixed, but bullish potential appears to be building as the USD/JPY challenges the 109.00 handle.

USD/JPY chart, 1-Hour

Spot rate: 109.15
Relative change: 0.32%

Trend: Sideways

Support 1: 108.80 (50-hour exponential moving average)
Support 2: 108.38 (Thursday low)
Support 3: 108.11 (one-month low)

Resistance 1: 109.41 (161.8% 1-day Fibonacci level)
Resistance 2:  109.83 (weekly high)
Resistance 3: 110.47 (61.8% 1-week Fibonacci level)