The US dollar is having a quiet session against the Japanese yen as July 4th Independence Day slows down the trading action on Thursday. The US Non-farm payrolls job report is likely to be the next big directional catalyst for the USDJPY pair on Friday. The 107.40 to 108.45 range now needs to be broken in order to encourage to the next major test of important support of resistance.
The USDJPY pair is only bearish while trading below the 107.80 level, key support is found at the 107.40 and 106.40 levels.
If the USDJPY pair trades above the 107.80 level, key technical resistance is found at the 108.45 and 109.00 levels.
