• USD/JPY eased slightly on Thursday as dollar remains on back foot amid ongoing U.S. economic concerns and uncertainty over upcoming Fed appointments.
• U.S. July jobs data missed forecasts, with prior payrolls revised sharply lower, signaling a weaker labor market.
• Initial jobless claims in the United States are drawing increased attention following last week’s disappointing nonfarm payrolls report .
• The U.S. Labor Department is expected to report that initial jobless claims rose by 3,000 to 221,000 for the week ending August 2, while continued claims for the week ending July 26 are also projected to edge higher
• Immediate resistance is located at 148.04(SMA20), any close above will push the pair towards 150.00(Psychological level).
• Support is seen at 146.31(61.8%fib) and break below could take the pair towards 145.40 (Lower BB).
Recommendation: Good to buy around 147.00, with stop loss of 146.50 and target price of 147.60
