The USD/JPY pair is trading just below the 38.2% retracement of its June monthly slide at 107.50, neutral in the short-term, ahead of the US Nonfarm Payrolls report. Valeria Bednarik, Chief Analyst at FXStreet, marks support and resistance at 106.95 and 107.95 respectively. Key quotes “The Nonfarm Payrolls report is expected to show that the country recovered 3 million jobs in the month, while the unemployment rate is seen contracting from 13.3% to 12.3%.” “The 4-hour chart shows that the 20 and 200 SMA converge a few pips above the 38.2% retracement of USD/JPY June monthly slide at 107.50, while the 100 SMA hovers a few pips below the current level. Technical indicators, in the meantime, are directionless within negative levels.” “The main support now is 106.95, the 23.6% retracement of the mentioned decline, while the most relevant resistance is 107.95.” 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 NFP Cheat Sheet: Fall in unemployment rate to weaken USD and makes Trump happy FX Street 3 years The USD/JPY pair is trading just below the 38.2% retracement of its June monthly slide at 107.50, neutral in the short-term, ahead of the US Nonfarm Payrolls report. Valeria Bednarik, Chief Analyst at FXStreet, marks support and resistance at 106.95 and 107.95 respectively. Key quotes “The Nonfarm Payrolls report is expected to show that the country recovered 3 million jobs in the month, while the unemployment rate is seen contracting from 13.3% to 12.3%.” “The 4-hour chart shows that the 20 and 200 SMA converge a few pips above the 38.2% retracement of USD/JPY June monthly slide at 107.50, while… Regulated 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.
