In European trading, USD/JPY lost momentum and continued to trade around the lower ¥156 range. It briefly rose as high as ¥156.58 in the late afternoon, but subsequently gave up those gains. Yen crosses followed a similar pattern. With the release of the U.S. employment report approaching, the dollar was expected to remain difficult to sell.
During European trading hours, USD/JPY mainly moved within a range around the mid-¥156 level, at one point extending its gains to near ¥156.58. It subsequently gave up those gains and returned to its previous range.
In today's trading range, USD/JPY moved between ¥156.28 and ¥156.58, EUR/JPY between ¥181.59 and ¥181.95, and EUR/USD between $1.1617 and $1.1625.
As the release of the U.S. employment report approached, views became more widespread that selling pressure on the dollar was likely to remain limited.