USD/JPY - USD/JPY Snapped Nine Positive Days in a Row Ahead of NFP - 05/05/2017 (GMT)

The USD/JPY snapped the nine consecutive positive days on Thursday as it found strong resistance on the falling trend line near the 112.60 resistance level. The 50-SMA shows that is heading to cross below the 200-SMA indicating the continuation of the downtrend. If we see a non-sufficient employment report to boost the greenback and USD/JPY dropped below 110.60, our target will be 108.15.

Otherwise, a successful penetration of the decreasing trend line and the 113.50 strong resistance level will send the pair towards 115.50 key level. MACD is rising above zero, as well as RSI which is near 70 level, however, RSI showed some decrease of momentum.