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USD/JPY Technical Analysis
The tug of war in the pair continues, between overall Dollar sentiment and risk appetite. The pair may be in a trading range for awhile between 90.00 and 100.00. Ahead, U.S. non-farm employment report may provide further guidance. The figures to this month's data are highly anticipated but the expectations are inconclusive - Many analysts expect better than expected numbers, while some still believe we are not out of the woods yet. Consensus looks at 520K jobs lost in May and the unemployment rate to spike to 9.2%.
Looking at the 4hour chart, USD/JPY is trading in range between 97.00 and 94.50. The pair has been mixed for the last couple of days as the Dollar's selloff combined with risk appetite have kept most market players distant. The trend remains bearish but a neutral stance should be established as more clear signs emerge. The next level of support is the 95.47 where a break of such would target subsequent levels at 95.00 and 94.50.
Resistance lies at 96.20, followed by 96.80 and 97.20.  Demand, forex, Japanese, Yen, JPY, Resistance, Supply, support, Technical, US, Dollar, USD,
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