USD/JPY struggles to break out of a seven-week range, with investors awaiting Friday's US jobs data to determine the next directional move for the currency pair.
The pair is stuck in a seven-week range below 158.00, with a bearish near-term bias beneath the 100-day SMA at 159.09, while the RSI at 49.37 is neutral. December Fed rate-hike bets support the dollar but BoJ hawkishness and intervention risk cap upside. All eyes are on the November 6 NFP release (consensus 65K, previous 29K) for a decisive breakout.
Resistance sits at 158.44, then the 100-day SMA at 159.09, 159.76, 161.65 and the cycle high near 164.05. Support is at 157.12, 156.65, then 155.48 and the cycle low around 152.83.
The US Nonfarm Payrolls report due Friday, November 6, 2026 at 13:30, with consensus at 65K after a previous 29K; a strong reading is seen as bullish for the US Dollar.
The USD/JPY pair remains range-bound below the 158.00 level as traders exercise caution ahead of the US Nonfarm Payrolls report. While Federal Reserve rate-hike expectations provide a floor for the dollar, the Bank of Japan's hawkish stance and potential intervention risks continue to cap upside momentum.
Immediate resistance is at 158.44 and 159.09, while support sits at 157.12 and 156.65.
The NFP report is a key indicator for the Federal Reserve's policy path; a strong reading typically bolsters the USD, while a weak one may weigh on the pair.