Recovery extended to 122.85, but selling pressure weighed, bringing the pair lower. USD/JPY is now attempting a tepid bounce towards hourly 10-SMA located at 122.69.
USD/JPY gently bid, pre-weekend. Gotobi, Japanese importer settlement demand also falls on a Saturday. Flat daily Ichi tenkan at 122.97 likely near-term .
Immediate resistance is now located at 122.78 (10 DMA) and further ahead at 122.90 21 DMA. Strong support lies at 122.30, breaks below could see the pair at 121.56 levels.
A December U.S. rate hike seems almost certain, barring any shocks in today's non-farm payrolls report
R1: 122.78 (10 DMA)
R2: 122.90 (21 DMA)
R3: 122.96 (Daily Tenkan-Sen)
S1: 122.40 (23.6 % Fibo of 118.05 - 123.75 rise)
S2: 122.30 ( Nov 24, 27)
S3: 122.26 (Daily Low Nov 25)