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USD/JPY challenges 109.00

FXStreet (Córdoba) - Following a 200-pip drop, USD/JPY found support at the 108.00 area late New York session and resumed the advance Friday as investors await the US nonfarm payrolls report.

USD/JPY staged a recovery but it was capped by the 109.00 level during the European session and entered a sideways phase as traders remain sidelined ahead of the US employment report. Consensus points to a 215K job gain in September following a weak 142K reading in August.

USD/JPY technical outlook

“Yesterday's slide bottomed at 108.00 and the current bias is positive above 108.45 key intraday support, for a rise through 109.10, en route to 109.50”, said Stoyan Mihaylov, analyst at Deltastock.

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