JPY review: Western Union

Quotes from Western Union:

- Markets' nervous anticipation ahead of America's monthly jobs report helped the yen move below ¥120 against the greenback, a modest safe haven lift. 

- Since early December, ¥120 has acted as the ceiling for dollar-yen. U.S. Treasury yields remain a primary driver of dollar-yen and their upward drift recently has offered solid support to the greenback. Yields are sure to be impacted by today's jobs report. 

- For the yen to add to its gain, it would need yields to retreat which would happen if U.S. employment should fall short of forecasts and douse expectations for a sooner Fed rate hike.