Since the middle of Wednesday's GMT trading hours, the USD/JPY has continued to trade near the 107.50 mark.
However, on Friday, the rate decreased volatility, which signalled that the pair could soon make a sharp move.
US Unemployment data
The Bureau of Labor Statistics released the US ADP Unemployment Rate data, which came out better-than-expected of 11.1% compared with the forecast of 12.4%.USD/JPY short-term daily review
Given that the exchange rate is pressured by the 55-hour moving average near 107.50, it is likely that some downside potential could prevail in the market. In this case the rate could target the support formed by the Fibo 38.20% and the weekly PP at 106.90.Hourly Chart
Since Thursday, on the Swiss Foreign Exchange 56% of open position volume was in short positions
Meanwhile, 51% of set up pending trade orders in a 100-pip range around the exchange rate were to buy.
The orders were 59% to sell on Thursday.