The USD/JPY pair fell hard during the session on Friday as the Non-Farm Payroll numbers came out weak. The 69 thousand jobs added was well under the expected amount, and as a result the Dollar got pummeled. There will be further talk of the Federal Reserve easing now, and this will continue to push this pair lower. However, there is a real chance that the Bank of Japan gets involved again in this area. The 78 level looks supportive so far, and as a result we like buying on a break of the top of the candle on Friday. As for selling – we can’t because of the potential of BoJ intervention.
Written by FX Empire