USD/JPY: expansion finds resistance at 121.35
USD/JPY jumped lower earlier at 120.89, reaching a 2-day low but came back after Wall Street opening bell. The recovery from the lows found resistance at 121.35 and the pair retreated toward 121.00.
Now trades at 121.03, down 0.10% for the day. The decline seems decent but earlier greenback reached at 122.01, the highest level since 2007; then moved back more than a hundred pips.
Currently, the US dollar is about to post the initial daily loss after rising during the previous three trading days, enhanced by the NFP report. Moreover, the Japanese currency is among the best performers across the board as stocks decline quickly in Wall Street. The Nasdaq was losing 1.20% and yhe Dow Jones was falling 1.40%.