USD/JPY consolidates in a range above mid-106.00s, NFP awaited

   •  The latest BOJ policy updates helped build on this week’s recovery move. 
   •  Subdued USD price-action does little to provide any additional boost.
   •  Investors seemed to await the release of US monthly jobs report.

The USD/JPY pair extended its post-BOJ consolidative price-action and has been oscillating in a narrow trading range above mid-106.00s.

The pair caught some strong bids on Friday and jumped to an intraday high level of 106.95, or over 1-week tops, after the BOJ Governor Kuroda, at the post-meeting press conference, reassured that the central bank will continue with its current aggressive stimulus until the 2% inflation target is achieved.

Adding to this, easing global trade-war fears, and the N. Korean announcement to suspend the nuclear missile program, weighed on the Japanese Yen's safe-haven appeal and provide an additional boost to the pair's up-move.

The up-move, however, stalled ahead of the 107.00 handle as investors now seemed to have turned cautious and preferred to wait for the release of keenly watched US non-farm payrolls data for some fresh directional impetus. 

Technical levels to watch

Immediate support is now pegged near the 106.60-50 region, which if broken might prompt some additional weakness further towards the 106.00 handle en-route the next major support near mid-105.00s.

On the upside, bulls would be eyeing for a breakthrough the 107.00 handle, above which the pair seems to aim towards surpassing 107.30 supply zone before eventually darting towards the 107.75-80 region.