Today’s focus will be the NFP with all related data such as the Average Hourly Earnings (wages). This will be the main driver for today and possibly the next week too.109.45-55 is the important zone to watch for further reaction from the USD/JPY. Above 109.55 the price could bounce to 109.71and 110.14. Only above 110.14 the target is 110.93, and that might only happen during next week. I don’t think it will happen today due to the ATR of the USD/JPY. Below 109.45 targets are 109.2- followed by 108.92. Below 108.90, the target is 108.50. Watch for the US data today and be careful with placing positional trades prior to NFP.
