FxWirePro: USD/JPY retreats slightly but trend is still bullish

• USD/JPY eased slightly on Friday as traders positioning ahead of the closely watched U.S. jobs report.

• Nonfarm payrolls likely increased by 110,000 jobs last month after rising by 147,000 in June, a  survey of economists showed. That reading would be below the three-month average gain of 150,000. Estimates ranged from no jobs added to an increase of 176,000 positions.

• Financial markets have pushed back an anticipated September rate cut to October. With tariffs starting to raise inflation, some economists believe the window for the Fed resuming policy easing this year is closing.

• Meanwhile, The Bank of Japan on Thursday left its short-term policy rate unchanged at 0.5% in a unanimous vote, signaling no immediate shift in its monetary stance.

• Immediate resistance is located at 151.27(Higher BB), any close above will push the pair towards 152.07(38.2%fib).

•  Support is seen at 149.74(50%fib) and break below could take the pair towards  14807 (SMA 20).

Recommendation: Good to buy around 150.30, with stop loss of 149.50 and target price of 151.00