• USD/JPY hovers around the 101 handle, trades an extremely narrow range in the Asian session.
   
• Jawboning attempts by the Japanese government official had little impact on the yen.
   
• Japan Ministry of Economy, Trade and Industry (METI) Minister Hiroshige Seko said the government is watching how strong Yen may affect corporate capex plans. 
   
• Seko reportedly said strong Yen could prompt big Japanese firms to revise capex plans.
   
• Yen largely muted despite the comments, USD/JPY currently trades 0.05 pct down at 101.15.
   
• Downside vulnerable below 101 handle, test of 98.78 (June 24 low) likely on violation there.
   
• Markets will continue to track the broader market sentiment ahead of the US non-farm payrolls data due later in the US session.
   
• Break above 5-DMA (101.38) finds next resistance at 103 (10-DMA) and then 104.50 (falling trendline).
   
• After two months of wide divergence in NFP numbers (May a big miss, June a big beat), the U.S. Dollar could see significant volatility around the release.
   
• Expectations for the headline print at +180k jobs, should NFP print stronger than expectations, we’ll likely see additional USD-strength.