On June 4, the USD/JPY pair approached a critical resistance zone between 160.20 and 160.60, levels where the BoJ previously threatened intervention. The EUR/USD managed to hold above support levels of 1.1530-1.1580 and broke above the first resistance at 1.1660. The USD/JPY pair remained mostly neutral, moving by only 0.1% over the last two sessions as the Yen struggled to recover. The USD/JPY is testing the 160 level as markets await US Non-Farm Payrolls data as a catalyst for volatility.
