USD/JPY: slight bid in Tokyo's greenback ahead of key nonfarm payrolls event

Currently, USD/JPY is trading at 113.26, up 0.03% on the day, having posted a daily high at 113.32 and low at 113.09.

US 10-year yield rises to 8-week high as ECB signals end of monetary easing

USD/JPY has popped higher in Tokyo, testing through 113.20 resistance with bullish attempts in the dollar, although there is little that traders might want to take on ahead of tonight's main event in the nonfarm payrolls data. 

ADP report point to soft nonfarm payrolls - ANZ

There are mixed feelings for this report, with some analysts using the ADP disappointment as a potential prelude for a weaker than expected report while others feeling that the ADP was solid enough despite the miss below the consensus. 

Another strong month of US payroll employment gains? - Nomura

USD/JPY levels

USDJPY: The short term momentum indicators are beginning to look a bit heavy

Valeria Bednarik, chief analyst at FXStreet explained that technically, the pair presents a neutral-to-bullish stance in the short term."In the 4 hours chart, the 100 and 200 SMAs keep advancing below the current level, with the shortest accelerating above the largest, but technical indicators have lost upward strength and hover around their mid-lines. Upcoming direction depends on the NFP outcome, with a huge positive surprise favouring an advance up to 114.40 a major static resistance area."