FXStreet (Moscow) - USD/JPY touched the Asian low at 102.25, but returned to 102.35 as investors are not ready to push the pair to new lows yet.

Ready, Steady, NFP!

USD/JPY could not move through 102.80 resistance and reversed lower, but the short-term downside was stopped by 102.30 support. From the technical point of view, this level is the last line of support before the pivotal area 102.00/101.80. Most likely, it won’t be broken until the US Non-farm payroll data published later today. The report is forecasted to show a healthy growth of number of employed in May. If it lives up to expectations, USD/JPY might resume its upside on the back of general positive USD reaction. But many traders are cautions as Wednesday’s ADP report came out weaker than expected. Thus disappointing NFP data might increase the bearish pressure on the pair and push it below said support level.

What are today’s key USD/JPY levels?

Today's central pivot point can be found at 102.51, with support below at 102.24, 102.06 and 101.79 with resistance above at 102.68, 102.96, and 103.13. Hourly Moving Averages are bearish, with the 200SMA at 102.12 and the daily 20EMA at 102.07. Hourly RSI is bearish at 39.

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Forex pairs in this Article » USD/JPY

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