USDJPY BULLISH HEADING INTO PAYROLLS
The greenback continues to gain ground against the Japanese yen currency, with price-action surging towards the 107.49 level, on broad-based U.S dollar strength. The USDJPY pair currently trades around the 107.30 level, with bullish momentum largely in place while price trades above the 107.00 level. Traders now look towards the release of the U.S Nonfarm payrolls job report, with analysts expecting 193,000 new jobs to be created and monthly U.S Wage Earnings to tick higher by 0.2 percent.
The USDJPY pair remains intraday bullish while trading above the 107.00 level, key resistance is found at the 107.69 and 108.01 levels.
The USDJPY pair will likely correct lower once clearly below the 107.00 level, key technical support is then found at the 106.60 and 106.00 levels.