The USD/JPY had a fairly quiet day on Thursday as traders pared volume ahead of the Non-Farm Payroll reports later today. The US job market will certainly have an effect on the rate in each currency, but the headlines out of Europe will certainly continue to weigh on sentiment as well. The USD/JPY pair looks a bit heavy at this point, but the reaction to the Non-Farm Payroll announcement will be what drives this pair for the day. The most pressure is to the downside in this pair, and if we get closer to the 80 handle, we are much more interested in selling at that point.
Written by FX Empire