• USD/JPY declined on Friday as dollar slipped sharply after data showed job growth slowed in May, lowering expectations for more aggressive U.S. interest rate increases.
   
• Data showed that U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labour market was losing momentum.
   
• Nonfarm payrolls increased by 138,000 last month, below the 185,000 expected by economists. Data for both March and April was revised to show 66,000 fewer jobs were created than previously reported.
   
• The pair is set to reach 110.20 and later towards 109.60 in the short term as the US dollar is set to weaken further against Japanese  yen in the short term. Therefore it’s good to sell this pair on rally.
   
• To the upside, the immediate resistance can be seen at 110.82, a break above this level would take the pair towards next resistance level at 111.00.
   
• To the downside, immediate support can be seen at 110.38, a break below this level will open the door towards next level at 110.05.
  
  Resistance Levels
  
  R1: 110.82 (61.8% Retracement Level)
  
  R2: 111.00 (Psychological levels)
  
  R3: 111.71 (Daily high)
  
  Support Levels
  
  S1: 110.38 (50% Retracement Level)
  
  S2: 110.05 (38.2% Retracement Level)
  
  S3: 109.62 (23.6% Retracement Level)