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USD/JPY consolidates above 115.00

FXStreet (Edinburgh) - The US dollar is trading almost unchanged vs. the Japanese yen on Friday, taking USD/JPY to the 115.20/30 band ahead of US Payrolls.

USD/JPY focus on NFP

The JPY is extending its depreciation following last Friday’s extra easing measures from the BoJ, boosting the pair from the 109.30 area to multi-year tops in the mid-115.00s this week. In the Japanese data front, Foreign Bond Investment rose to ¥806.6 billion in the week ended on October 31st while US Payrolls are due later. Consensus expects the US economy to have added 231K jobs in October, lower than September’s 248K. Sean Callow, Strategist at Westpac, noted, “Unease over the speed of the yen slide in Sep was already evident so concern is surely greater now. At the very least a period of consolidation seems in order for USD/JPY”.

USD/JPY relevant levels

At the moment the pair is advancing 0.09% at 115.28 and a surpass of 115.52 (2014 high Nov.6) would open the door to 115.93 (high Nov.1 2007) and then 116.00 (psychological level). On the downside, the immediate support lines up at 115.06 (low Nov.7) followed by 114.06 (low Nov.6) and then 113.42 (low Nov.5).

GBP/USD holds up above 1.5800 ahead of NFP

GBP/USD is going through a sideways phase ahead of the US employment report, having steadied above the 1.58 mark after hitting a fresh 14-month low on the back of weaker-than-expected UK trade balance data.
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