USD/JPY – Technical Analysis (H1)

The pair remains tightly consolidated ahead of today’s release of important US macroeconomic data. Once the figures are presented to the market, the price is expected to receive a clear impulse in either direction. The key control levels of support and resistance stand at 158.300 / 158.600.

Key Levels:

□ Support: 158.300

□ Resistance: 158.600

Primary Scenario:

Range-bound action until the news release, followed by an impulse move in either direction.

Analyst Commentary:

From a pure trend-continuation perspective, a move lower appears more logical. However, on days such as today, technical logic takes a back seat — Non-Farm Payrolls (NFP) data is simply too fundamental for the market.