During this past Friday (3/4), the market had a knee-jerk reaction to the NFP, which had a better-than-expected headline number, but disappointing wage data. When you dig even deeper, the wage data might not be so bad after Here's an article from Business Insider: Economist: 'The wage number is wrong - payrolls are strong" Now, USD/JPY had a whippy reaction that eventually went no where:USD/JPY 4H Chart 3/7(click to enlarge)As we can see in the 1H chart, the reaction after the NFP did not materialize into a directional move. Instead price remained pretty much within the range created by the 2 hours following the jobs numbers came out. The bulls and bears have set up the lines.Support: 113.15-113.20Resistance 114.20-114.25 A break below support opens up 112-112.20 and 111-111.10. A break above 114.20 should open up 114.50, which is where the 200-period SMA resides in the 4H chart. It is also a previous year-long consolidation support pivot turned into possible resistance.