USD/JPY & US NFP June release: Will we see it below the 100.00 level?

Today at 12:30 GMT will be released the US NFP reading for June, after the strong decline that had during the May release, where it added only 38,000 jobs. However, for this time, analysts expect a decent recovery towards the 175K number and if the current reading is better than expected, it should be given clearer signs about current situation of overall US economy. Bear in mind that yesterday’s ADP jobs data showed a positive number, with 172,000 jobs added, which was above the consensus of 159,000.

The technical picture of USD/JPY at H4 chart ahead the US NFP is still very bearish. A resistance can be found around the 103.24, where the pair can do a breakout to test the bearish trend line projected from the 111.34 high level, of course if the reading for non-farm payrolls is higher than expected. However, if reading is worst than last release or below the 100K mark, it can test the “Brexit” low of 98.97 level.