- The dollar loses strength after setting new highs in years.
- Equity markets in positive, with modest gains.
- Japan in shock after assassination of former prime minister.
- The US employment report for June is coming.
Stocks in Europe are rising on Friday, while futures on Wall Street alternate gains and losses. Traders await US jobs report Metals steady, dollar hit new highs worse then retreated.
In Japan, former Prime Minister Shinzo Abe was assassinated while speaking in public at an event. This generated a shock in the Asian country. The yen is among the best performing currencies in the G10 group.
Bond yields and equity markets are trading in ranges, favoring USD/JPY to do the same. The pair fell to 135.32 in Asian hours and then bounced back to 136.00.
The US employment employment report will be released in minutes. Nonfarm payrolls are expected to show 268,000 job creation and the unemployment rate is expected to hold at 3.6%.
Levels to consider
To the upside, USD/JPY faces resistance at 136.00 initially and then at 136.30. Above it will then follow 136.70. In the opposite direction, at 135.15 there is a key short-term support that is a bullish line, which if broken would leave the pair weakened and pointing to more lows. The next support then appears at 134.70 followed by 134.20.
Source: Fx Street
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