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FBS: trading USD/JPY

USD/JPY is trading higher on Tuesday, testing 98.35. The greenback remains supported for a second day in a row after having bottomed at 97.50 on Friday. Demand for the US currency is up ahead of the nonfarm payrolls release at 12:30 GMT.

We hold our USD/JPY long from 98.15 with a target of 98.95 and a stop at 97.95. Large sell orders are clustered in the 99.00 region, while buyers have gathered at 98.00 and 97.50.

Chart. H4 USD/JPY

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