Support and resistance levels stall the rise and fall in the USDJPY
38.2% and 100 hour MA above. Swing area below
The USDJPY fell the weaker US payroll report but stocks recovered losses and that seemed to help the pair move back higher.
Technically, the pair moved to a low of 112.61. That fit right between a lower swing area at the 112.57-657 area. A support area held (see yellow area on the chart above).
On the topside today, the 38.2% comes in at 112.916. The 100 hour MA comes in at 112.974. IF the price is to go higher that area needs to be busted.
We currently trade between those level at 112.825 as trader are stalemated by the support and resistance levels and the weaker number but Fed may be on hold earlier idea.