USDJPY REJECTED FROM 38.2 FIB LEVEL
The USDJPY pair has fallen back towards the 110 level, after being strongly rejected from the 110.67 level, which represents the 38.2 percent Fibonacci retracement level, of this week's price low, to the July monthly price high.
During the Asian session, the USDJPY pair has found strong support, from the 109.89 level, and is currently holding above the 110 level, ahead of the United States August Nonfarm payrolls jobs report.
The USDJPY pair remains neutral ahead of the Nonfarm payrolls job report, although in the long-term the pair is still trading in a downtrend.
Key intraday technical resistance is located at 110.37, 110.69, 110.84 and the crucial 111.40-111.50 region.
Key intraday technical support is located at the current daily price low, at 109.89, and the 23.6 Fibonacci level of the mentioned price retracement, at 109.75. The weekly pivot point offers further critical support, at 109.28.