Important events today:

13:30 UTC – USD: Change in Non-Farm Payrolls

The Japanese yen remains near the two-week high reached against the US dollar on Thursday. Traders seem reluctant to make aggressive directional bets right now and prefer to wait for the release of the closely watched monthly US employment data, known as the Non-Farm Payrolls (NFP) report, today at 16:30 MSC.

The Bank of Japan’s (BoJ) tight stance has strengthened the Japanese Yen (JPY), gaining support amid geopolitical tensions in the Middle East. Escalating tensions have prompted investors to seek a safe haven in the Japanese Yen. For the week ended January 26, foreign investment in bonds in Japan registered an inflow of 382.9 billion yen, a marked increase from an outflow of 43.5 billion yen in the previous week. In addition, foreign investment in Japanese equities increased in the same week, rising to 720.3 billion yen from 287 billion yen in the previous week.

Recommendations: Trade in the channel 146.00 – 147.10 on bounces from the levels.