USD/JPY edges lower to trade under 158.00 as hot Tokyo CPI data bolsters the yen, with market participants awaiting key US labor market reports.
The USD/JPY pair is experiencing downward pressure during the Asian session, trading below the 158.00 level. This movement is driven by a combination of a stronger yen, supported by hot Tokyo CPI data, and market caution as investors position themselves ahead of the upcoming US Non-Farm Payrolls (NFP) report.
The pair is edging lower during the Asian session, trading below 158.00 but remaining near recent weekly highs.
The USD/JPY pair retreated below the 158.00 level during Friday's Asian session as stronger-than-expected Tokyo inflation data provided support for the Japanese yen. Traders are now shifting their focus toward upcoming US non-farm payrolls data to gauge the next move for the dollar.
The pair is reacting to higher-than-expected Tokyo CPI data, which has strengthened the yen, while traders also position themselves ahead of critical US employment figures.