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FxWirePro: USD/JPY holds near 143.90, next move hinges on U.S. labor data

• USD/JPY edged higher  on Thursday but gains were limited   as investors exercised caution ahead of the closely watched U.S. non-farm payrolls (NFP) report due later in the day.

• Markets are increasingly sensitive to labor market signals, especially after Wednesday’s ADP employment data showed a surprise contraction in private sector jobs  the first decline in over two years.

• Analysts are forecasting a rise of 110,000 jobs, with the unemployment rate expected to tick up to 4.3%.

• At GMT 06:25 the US dollar was up 0.13% to 143.83 against the Japanese yen.

• Immediate resistance is located at 145.05 (50%fib), any close above will push the pair towards 145.94(June 25th high).

•  Support is seen at 142.88(38.2%fib) and break below could take the pair towards  142.39(Lower BB).

Recommendation: Be on side lines
 

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