USD/JPY: consolidated on 103 handle, bulls in charge

USD/JPY is currently a flat start in Tokyo after a better bid day for the bulls with a stringer dollar across the board.

USD/JPY extended the rally from 100.007 that started on 26th August on the back of the Jackson Hole event. The BoJ will be relieved to some extent, but their officials have repeatedly jawboning the currency lower with constant dovish rhetoric suggesting rates can go more negative of need be.  The September meeting is in play and so is the Fed. We have the nonfarm payrolls as the first major event at the end of the week as a key catalyst from here. 

USD/JPY levels

With spot trading at 100.45, we can see next resistance ahead at 100.49 (Daily Classic PP), 100.52 (Hourly 20 EMA), 100.53 (Daily Open), 100.53 (Weekly High) and 100.60 (Daily High). Support below can be found at 100.42 (Daily Low), 100.42 (Weekly Classic PP), 100.39 (Hourly 100 SMA), 100.39 (Hourly 200 SMA) and 100.34 (Daily Classic S1). Regarding candlestick formations, we can see Doji formation on the 1-hour .

Fed: You can't handle the truth!