JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks 
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish 
FxWirePro: NZD/USD gains as U.S.-Iran peace hopes boost risk sentiment 
FxWirePro: USD/CNY dips as yuan firms on improving risk appetite 
JPY Action Bias: Bullish Pairs to Watch Out For 
FxWirePro- Woodies pivot (Major) 
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption 
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 
FxWirePro: USD/CNY edges higher but bulls lack punch 
FxWirePro: GBP/NZD gains some ground but outlook is bearish 
FxWirePro:USD/JPY hovers near a four-decade low 
FxWirePro: AUD/USD gains on Iran-US truce hopes, risk rally 
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus 
FxWirePro: GBP/AUD under pressure as pound continues to weaken 
NZDJPY Action Bias: Bullish Dip-Buying Opportunity on Broad Yen Weakness 
FxWirePro: GBP/AUD bears maintain upper hand 
FxWirePro- Major Pair levels and bias summary 
Chart - Courtesy Trading View
USD/JPY was trading in tight range, with session high at 130.24 and low at 129.88.
The pair is consolidating previous session's gains, caution prevails ahead of US Non-Farm-Payrolls data.
Growing fears of global recession joined the hawkish central bank chatters to weigh on market sentiment.
Further, reports suggesting US readiness to implement a ban on Xinjiang goods also roil the mood in major markets.
Technical bias for the pair is bullish. Momentum is with the bulls, volatility is high. MACD is on verge of bullish crossover on signal line.
Focus later in the day will be on US ADP Employment Change for May, expected at 300K versus 247K prior.
Major Support Levels:
S1: 128.66 (20-DMA)
S2: 128.35 (21-EMA)
Major Resistance Levels:
R1: 131.11 (Upper BB)
R2: 131.34 (May 9th high)
Summary: USD/JPY trades with a bullish technical bias. Pullback has bounced off 50-DMA support. Scope for retest of 131.34 ahead of fresh yearly highs.
