USD/JPY is dropping below the June’s low while trading below the 107.00 mark.
In the United States, Nonfarm Payrolls came in line with expectation with 144K jobs in July while wages came in better-than-expected at 3.2% vs. 3.1% forecast.
The level to beat for bears are seen at 107.20, 107.50 and at the 107.82 support.
USD/JPY daily chart
USD/JPY is challenging the June lows while trading in a bear trend below its main daily simple moving averages (DSMAs).
USD/JPY 4-hour chart
USD/JPY is trading below its main SMAs, suggesting a bearish bias in the medium term. Bears expect the decline to continue towards 106.65, 106.54, 106.15 and the 105.85 support, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
The market is trading below the major SMAs, suggesting a bearish bias in the short term. Resistances are seen near 107.20, 107.50 and the 107.82 levels, according to the Technical Confluences Indicator.
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