The Japanese Yen (JPY) struggles to capitalize on the previous day's modest gains and oscillates in a narrow range against its American counterpart during the Asian session on Friday.
The Japanese Yen extends its consolidative price move amid wavering BoJ rate hike expectations. A softer risk tone, trade war fears, and geopolitical risks could offer support to the safe-haven JPY. A modest USD uptick is seen acting as a tailwind for the USD/JPY pair ahead of the US NFP report. The Japanese Yen struggles to capitalize on the previous day's modest gains and oscillates in a narrow range against its American counterpart during the Asian session on Friday.
USD/JPY traders seem non-committed; 100-day SMA pivotal support holds the key for bulls From a technical perspective, the overnight swing low, around the 148.65 region, now seems to protect the immediate downside ahead of the 149.00 mark and the 100-day SMA, currently around the 148.80 region. The latter should act as a key pivotal point, which if broken decisively will be seen as a fresh trigger for bearish traders.
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