• USD/JPY held a narrow range as the lift from a hot US payrolls print proved short-lived

• The direction of US equities is the short-term key driver for the pair

• US tech names have rebounded, but concerns continue to linger, so the topside in USD/JPY remains capped

• UST Yields and oil are both significantly off recent highs, which leans in favour of JPY

• Technically, resistance at 158.90-159.00 continues to keep a cap

• Initial support is at 157.27 (Thursday low), then 156.50 and 156.00
USDJPY hourly chart


USDJPY vs oil stocks and yields

Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))