- USD/JPY loses bullish momentum this Friday as the NFP (Non-farm Payrolls) data disappoints.
- The levels to beat for bears is at the 106.70 support level, according to the Technical Confluences Indicator.
USD/JPY daily chart
USD/JPY is trading in a bear trend below the main daily simple moving averages (DSMAs). The market has tested the 107.00 figure and the 50 SMA on the daily time-frame. Earlier in the New York session, the Non-farm Payrolls (NFP) in the United States (US) came in below expectations with only 130K jobs added in August vs. 158K forecast. However, the wages, the Average Hourly Earnings, beat expecations with 3.2% vs. 3.1% forecast.
USD/JPY 4-hour chart
USD/JPY is challenging the 106.31 support level above the main SMAs. Bulls would need a daily close above 106.98 resistance to generate buying interest, according to the Technical Confluences Indicator.
USD/JPY 30-minute chart
Dollar/Yen is retreating from the weekly below the 50 SMA, suggesting a potential correction down in the near term. It is likely that bear will try to break below 106.70 to reach 106.32 price level next week, according to the Technical Confluences Indicator.
Additional key levels
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