USD/JPY New York Price Forecast: US dollar remains supported vs. yen, NFP non-event

 

 

USD/JPY is stabilizing near the 108.00 handle while challenging the 200 SMA on the daily chart. US Nonfarm Payrolls plummeted by 701K in March however the news was no news and it was essentially a non-event.

 

 

USD/JPY is nearing the 108.70 resistance near the main SMAs on the four-hour chart as buyers are looking for a break beyond the above-mentioned level en route to the 110.00 and 111.70 resistance levels on the way up while support can emerge near the 108.00, 107.00 and 105.00 levels.