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USD/JPY advancing to daily tops near 120.30

FXStreet (Edinburgh) - The upbeat tone around the greenback remains unabated on Friday, now sending USD/JPY to intraday peaks around 120.20/30.

USD/JPY firmer ahead of US releases

Spot is extending the rebound from recent lows in the mid-119.00s, bolstered by a renewed bid tone surrounding the dollar and a firm pace from US Treasuries. The dollar has quickly shrugged off the poor result from the ISM Manufacturing during August published yesterday, focusing instead in the upcoming Non-farm Payrolls.

It is worth noting that market expectations place today’s NFP number just above the 200K threshold, while Factory Orders are seen expanding at a monthly pace of 0.3% during the same period.

USD/JPY levels to watch

As of writing the pair is advancing 0.26% at 120.23 facing the next hurdle at 120.72 (high Sep.16) ahead of 120.99 (high Sep.17) and finally 121.335 (high Sep.10). On the other hand, a breakdown of 119.24 (low Sep.29) would aim for 118.87 (low Sep.8) and then 118.58 (low Sep.4).

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