due to a 5 wave move down from the 113 region, the bear is now is charge and should be a continuation down after correction is done, most probably around 50-62% region
a lower than expected NFP will support this view as usd sell off, if NFP is lower, it mean FED will not be rising rate which is good for stock market and therefore risk and equal to usdjpy fall
a higher than expected NFP will support rate hike view and could invalid this idea
however, short term wise, bears should push it down lower, NFP to decide if the move down will extend further
a lower than expected NFP will support this view as usd sell off, if NFP is lower, it mean FED will not be rising rate which is good for stock market and therefore risk and equal to usdjpy fall
a higher than expected NFP will support rate hike view and could invalid this idea
however, short term wise, bears should push it down lower, NFP to decide if the move down will extend further
Comment:
50% region does the trick and short term fall done, another fall below 112.1 will confirm extension lower
