USDJPY was trading within a swing area between 157.66 and 158.86. Looking at today’s daily chart, the low price came just below the swing low at 157.62. The high price reached just above the high of the swing area at 158.86. The swing area is wide, but traders trade the range today. Look for the break and momentum on the break.

The current price is trading between the levels at 158.24.

Coming to the hourly chart below, the lowest price reached before the jobs report stalled against its 200-hourly moving average for the third straight test. This increases the level’s importance in the future. The 200-hour moving average comes in at 157,593.

A move below that moving average is needed for the bias to lean more to the downside. Closer support would be at the 100-hour moving average at 157,986 (blue line on the chart below). A move below that level – and staying below it – would be a short-term victory for sellers.