The USD/JPY registered modest losses of 0.30% on Thursday, as the Greenback remains on the backfoot ahead of crucial US jobs data on Friday.
USD/JPY declines to 155.60 after hitting a high of 156.44, amid cautious market sentiment. Mixed signals from US economic data, with JOLTS and ADP reports falling short of expectations, pressuring the pair. Technical outlook: First support at 50-DMA ; resistance at June 4 high , followed by April 26 high and YTD high . Nevertheless, a soft US JOLTS report, followed by ADP Employment Change missing estimates, could be a prelude to May’s Nonfarm Payrolls report.
A breach of the latter will expose the bottom of the Ichimoku Cloud at around 153.40/50. Conversely, if buyers push prices above the June 4 high of 156.48, that could sponsor a leg-up toward 157.00. On further strength, the next supply zone would be the April 26 high of 158.44, followed by the year-to-date high of 160.32. USD/JPY Price Action – Daily Chart USD/JPY Overview Today last price 155.6 Today Daily Change -0.50 Today Daily Change % -0.32 Today daily open 156.1 Trends Daily SMA20 156.
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