USD/JPY,4/4

USD/JPY is showing little movement on Thursday. In the North American session, the pair is trading at 111.58, up 0.08% on the day. On the release front, U.S. unemployment claims impressed, dropping to 202 thousand. This was below the forecast of 215 thousand. Later in the day, Japan releases household spending, which is expected to tick lower to 1.9%. On Friday, the focus will be on U.S. employment data, with the release of nonfarm payrolls and wage growth. It’s been a disappointing week for U.S. numbers, and the trend continued on Wednesday. ADP nonfarm payrolls plunged to 129 thousand, down from 183 thousand in the previous release. Is this a precursor of what to expect on Friday? Nonfarm payrolls are projected at 175 thousand, a soft number in comparison to recent releases. ISM Non-Manufacturing PMI also stumbled on Wednesday, falling from 59.7 to 56.1 points. USD/JPY showed limited movement in the Asian and European sessions. The pair has posted small gains in North American trade •110.90 is providing support •112.16 is the next resistance line •Current range: 110.90 to 112.16 How To Trade Forex Using Support and Resistance Levels