USD/JPY is at the lows of the day at 102.55 after stubbornly hanging onto the post-NFP lows for a couple hours.

Like I wrote earlier:

USD/JPY has risen for 10 consecutive days heading into today. To sustain that kind of altitude you need rocket fuel from the headlines but non-farm payrolls were an anchor.

I don’t think the fall today should be seen as any kind of Fibonacci retracement or a fall back to the 200-dma at 102.18 is something I expect.

USDJPY retracement target

USDJPY daily