USD/JPY keeps gains near 103.50 ahead of US data

The greenback keeps its firm tone intact vs. its Japanese peer at the end of the week, with USD/JPY now meandering a narrow range in the mid-103.00s.

USD/JPY attention to Payrolls

Spot has resumed its upside after yesterday’s ISM-led drop, keeping the weekly rally intact and including an ephemeral test of the critical barrier at 104.00 the figure (Thursday).

Next of relevance for the pair will be the US labour market figures, with market consensus expects the economy to have added 180K jobs during August and the jobless rate to ease to 4.8%.

Extra US data will see July’s Trade Balance figures and Factory Orders, followed by the speech by Richmond Fed Jeffrey Lacker (hawkish, voter in 2018).

USD/JPY levels to consider

As of writing the pair is gaining 0.27% at 103.50 facing the immediate hurdle at 104.00 (high Sep.1) ahead of 104.47 (38.2% Fibo of the June-July up move) and then 105.38 (100-day sma). On the other hand, a breakdown of 102.82 (55-day sma) would aim for 101.46 (20-day sma) and finally 99.53 (low Aug.16).