USD/JPY easily cut through a solid layer of offers in the 97.80 zone but faces another set of sellers at 98.00.
The risk in buying USD/JPY here is that tomorrow’s non-farm payrolls report is weak. That could lead intraday longs to take profits before the European close.
If the big figure breaks there are more, smaller offers from 98.10-20 but with Draghi slated to speak, all orders are subject to change.
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