USD/JPY: Greenback is well supported by bulls in the 109.50 region

• The US added 223K jobs against 178K expected by analysts while wage growth matched analysts expectations at 2.7% y/y in May.
• USD/JPY supported by bulls is trading in the 109.50 region.

USD/JPY jumped 20 pip in a knee-jerk reaction as the US Nonfarm Payrolls came in better-than-anticipated at 223 versus 178K in May. The wages' growth (Average Hourly Earnings) matched analysts expectations at 2.7% in May. The unemployment rate came slightly better at 3.8% versus 3.9% expected by analysts. The news is bullish for the buck as more jobs have been added in May which is a positive for the US economy. 

USD/JPY is now consolidating his recent 20-pip move higher and is trading at around 109.50 up 0.66% on Friday.

Overnight USD/JPY had a boost on the back of a pickup in US treasury yields. 

The greenback as tracked the US Dollar Index (DXY) is trading in the 94.20 region. 

USD/JPY 4-hour chart 

USD/JPY is trading above its 200-period simple moving avergae. Support is seen at the 108.00 and 109.00 handle while resistances are seen at the 110.00 handle and the 111.41 May 21 high.