USD/JPY: downside playing out on failed bullish attempts

Currently, USD/JPY is trading at 113.76, down -0.24% on the day, having posted a daily high at 114.21 and low at 113.67.

USD/JPY is offered in Tokyo with Wall Street a mixed backdrop while the US dollar remained in consolidation mode. The major fell just shy of the previous highs at 114.81 and is now testing the resistance of  24th Nov highs that now acts as a fragile support line. For the day ahead, the calendar is light ahead of nonfarm payrolls, while the data from overnight in the US shift was another improvement for the US economy in the US ISM manufacturing survey that rose from 51.9 to 53.2 (52.5 expected). 

Economic event risks today

"US nonfarm payrolls should rise 170k in Nov following a 161k gain in Oct (consensus is +180k),: explained analysts at Westpac, "The unemployment rate is likely to be unchanged on stable participation. ADP data points to modest upside risks."

USD/JPY levels

Current price is 113.76, with resistance ahead at 113.83 (Yesterday's Low), 114.03 (Daily Open), 114.17 (Hourly 20 EMA), 114.21 (Daily High) and 114.42 (Monthly High). Next support to the downside can be found at 113.68 (Daily Classic PP), 113.67 (Daily Low), 113.06 (Hourly 100 SMA), 112.80 (Daily Classic S1) and 112.54 (Hourly 200 SMA).