USD/JPY chart - Trading View
USD/JPY comatose, trades in narrow ranges and markets cautious ahead of non-farm payrolls report.
Data released overnight showed ADP private payrolls plunge to 27,000 in May after April's 275,000.
The huge drop in additions to ADP payrolls tilts the NFP (due 12:30 GMT) risk to the downside.
The non-farm payrolls report is expected to show the US economy added 185k jobs in May.
The jobless rate is forecasted to remain 3.6% while the average weekly earnings are expected to have risen 0.3% month-on-month
An above-forecast wage growth number will likely put a strong bid under the greenback. Gains till 109.30 likely.
Major trend is bearish, but a bullish divergence on RSI and Stochs keeps scope for upside.
Downside continuation will finds next major support at 61.8% Fib at 107.61.
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