Friday's Non-Farm Payroll numbers came below expectations and as a result we saw sell off on USDJPY and the pair dropped around 100 pips from highs of the day. From technical perspective, the pair was testing resistance around 104.15 level so some bearish reaction was expected and NFP provided that opportunity for smart money to sell into news event when volatility is highest.

In coming days, I am expecting USDJPY to drop lower towards Daily demand zone around 101.40 level where we could see some buying interest. If the demand zone holds then price is likely to go higher and test major supply zone around 105.60 level.

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