The USDJPY has been in a strong downtrend for most of the year. The Bank Of Japan (BOJ) have increased stimulus this month on a backdrop of economic uncertainty and this has weighed on this pair.
Now, this pair is consolidating in a channel and tomorrows Non-Farm Payroll (NFP) announcement at 12.30 GMT may provide trading opportunities on a break out. The figure expected is 175K for NFP and any deviations from this may surprise the market and get this pair moving.
We are trading close to the round number 100 which has provided recent support. Any break downs may meet some buying support at this level again.
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