Chart - Courtesy Trading View
USD/JPY was trading 0.04% higher on the day at 129.88 at around 04:30 GMT, after closing 0.19% lower in the previous session.
The pair is extending rangebound trade for the second straight session, caution prevails ahead of US NFP data.
Softer US ADP numbers on Thursday suggest downbeat signals for today’s NPF numbers, which along with sluggish yields weigh on the US dollar.
US ADP Employment Change eased to 128K for May, versus 300K forecasts and a downwardly revised 202K previous reading.
The Weekly US Initial Jobless Claims, on the other hand, fell to 200K below the 210K anticipated and 211K prior.
Further, US Factory Orders for April softened to 0.3%, from a revised 1.8% in March and 0.7% forecast.
Looking forward, headline US NFP is expected to ease to 325K versus 428K prior whereas the ISM Services PMI may retreat from 57.1 to 56.4.
Technical indicators for the pair are bullish. Weakness only below daily cloud.
