USD/JPY Outlook: Momentum Bearish, But Can The U.S. Dollar Find Support On Strong Jobs Data?

MarketPulse by OANDA Group421 FollowersFollow5ShareSavePlay(4min)CommentsSummaryUSD/JPY is experiencing significant pressure, trading below the 100-day MA near 152.800.The yen's unexpected rally is due to political clarity/responsible fiscal policy post-election and speculative short-covering.A brief positive reaction in the US dollar following the jobs report is being tested, with pressure on the Fed to act on high rates.Attention turns to initial jobless claims and the US CPI release on Friday. tadamichi/iStock via Getty Images By Zain Vawda USD/JPY is experiencing significant downward pressure, with prices pushing down to a daily low at 152.800. The pair is now trading below the 100-day MA but is more downside still a possibility?This article was written byMarketPulse by OANDA Group421 FollowersFollowMarketPulse is an award-winning industry analysis and news site service created by OANDA Business Information & Services, Inc. Covering forex, commodities, global indices and more, our goal is to give timely, relevant and informative commentary on major macroeconomic trends, technical analysis and worldwide events impacting the industry.