USD/JPY back to square one as NFP dust settles

USD/JPY oscillated sharply in the aftermath of a stronger-than-expected US jobs reports, initially advancing to daily highs but then falling to its lowest level since the Brexit vote.

USD/JPY reached a peak of 101.27 during the first minutes, only to drop 130 pips toward a 2-week low of 99.98 before finding support. At time of writing, the pair is trading at 100.60, virtually unchanged on the day.

USD/JPY levels to watch

As for technical levels, next supports are seen at 99.98 (post-NFP low) and 98.98 (post-Brexit low). On the other hand, resistances could be faced at 101.39 (Jul 7 high), 101.74 (Jul 6 high) and 102.00 (10-day SMA).