USD/JPY chart - Trading View
USD/JPY was trading rangebound at 107.53 at around 04:30 GMT, bias remains neutral to slightly bearish.
Upbeat US employment data fails to impress bulls, the recent risk-off moves seem to continue favoring the sellers.
Data released on Thursday showed U.S. non-farm payrolls rose 4.8 million, as compared with consensus forecasts of a rise of 3 million.
Jobless rate also rebounded in the month, dropping to 11.1 percent from May’s 13.3 percent. The number of unemployed persons fell 3.2 million to 17.8 million.
The jobless rate’s improvement is a welcome sign, especially as it came along with a reported rebound in the potential number of workers “misclassified” as “employed but absent from work”, noted TD Economics in a research report.
The major remains pivotal at cloud base support. Breach below will see bearishness. Dip till 106 levels likely.
Major and minor trend remain neutral. Decisive breakout at 200-DMA will fuel upside.
