FxWirePro: USD/JPY retakes 111 handle, focus on U.S. monthly jobs report for further impetus

• US dollar index is posting moderate gains on Thursday amidst usual adjustment to month-end flows and some pick-up in demand for the riskier assets.
   
• USD/JPY has reclaimed the 111 handle and intraday bias remains neutral.
   
• Next in focus would be the US economic docket, featuring the release of ADP report, weekly jobless claims and ISM manufacturing PMI.
   
• Investors keenly await US monthly jobs report, due on Friday for further direction.
   
• The major finds strong support at 110.08 (200-DMA) and we see weakness only on break below.
   
• On the upside, close above 5-DMA could see test of 111.81 (cloud top) and then 112.17 (20-DMA).

Support levels - 110.61 (23.6% Fib), 110.30 (trendline), 110.23 (May 18 low)

Resistance levels - 111.81 (cloud top), 112, 112.17 (20-DMA)

Recommendation: We prefer to wait for clear directional bias.

FxWirePro Currency Strength Index: FxWirePro's Hourly USD Spot Index was at 11.5384 (Neutral), while Hourly JPY Spot Index was at -119.373 (Bearish) at 0940 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.