Chart - Courtesy Trading View
USD/JPY was trading in tight range, with session high at 130.24 and low at 129.88.
The pair is consolidating previous session's gains, caution prevails ahead of US Non-Farm-Payrolls data.
Growing fears of global recession joined the hawkish central bank chatters to weigh on market sentiment.
Further, reports suggesting US readiness to implement a ban on Xinjiang goods also roil the mood in major markets.
Technical bias for the pair is bullish. Momentum is with the bulls, volatility is high. MACD is on verge of bullish crossover on signal line.
Focus later in the day will be on US ADP Employment Change for May, expected at 300K versus 247K prior.
Major Support Levels:
S1: 128.66 (20-DMA)
S2: 128.35 (21-EMA)
Major Resistance Levels:
R1: 131.11 (Upper BB)
R2: 131.34 (May 9th high)
Summary: USD/JPY trades with a bullish technical bias. Pullback has bounced off 50-DMA support. Scope for retest of 131.34 ahead of fresh yearly highs.


BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
FxWirePro- Major Pair levels and bias summary
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80
FxWirePro:GBP/NZD recovers ground after early dip, bias bullish
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
FxWirePro: USD/ZAR bears maintain upper hand
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm
FxWirePro: USD/JPY catches bid ahead of BoJ meeting
FxWirePro: AUD/USD struggle to extend its recovery,good to sell on rally
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/NZD steadies ahead of ECB meeting
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD dive post-CPI short-lived as traders prepare for BoE decision
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut 



