USD/JPY: range action likely ahead of US NFP – V.Bednarik

USD/JPY: range action likely ahead of US NFP â€" V.Bednarik

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USD/JPY: range action likely ahead of US NFP V.Bednarik

FITITOL--> FXstreet.com (San Francisco) - USD/JPY traded a broad range between 79.45 and 80.10 on Thursday, reaching an eight-day high before closing the session virtually unchanged at 79.90 vs. 79.86 late Wednesday.

Hovering quietly in the 79.90 zone ahead of the Tokyo fix, the pairing may encounter support at 79.80, 79.45 and 79.20 should bears regain control, while beyond 80.10, the upside offers resistance at 80.30 and 80.60.

Technically speaking, “In the 4 hours chat indicators hold a neutral bias as per hovering around their midlines while price stands above moving averages,” comments Valeria Bednarik, Chief Analyst at FXstreet.com. “The 79.45/80.10 range will likely persist ahead of US NFP data Friday European morning.”