Key events today:

12:30 UTC: USD – Change in Non-Farm Payrolls.

The Japanese yen (JPY) continues to strengthen amid the overall weakening of the US dollar (USD), keeping the USD/JPY pair near its lowest level since early October, reached on Thursday. Ongoing speculation that the Bank of Japan (BoJ) will continue raising interest rates is putting upward pressure on Japanese government bond (JGB) yields. As a result, the narrowing interest rate differential between Japan and other countries continues to support the low-yielding yen.

Meanwhile, uncertainty related to President Donald Trump’s trade policy and its impact on global economic growth continues to weigh on investor sentiment. This is evident from the weaker tone in stock markets and is another factor supporting the safe-haven yen. However, dollar bears appear hesitant to place new bets and prefer to wait for the release of the US Non-Farm Payrolls (NFP) report, which in turn limits losses in the USD/JPY pair.

Recommendation: Buy 147.60, SL 147.00, TP 148.40.