We have been following the USD/JPY on its ascent from around the key support of 100 to 104 during the 10/6 session. USD/JPY Daily Chart 10/6(click to enlarge)Completing a bottom:- The daily chart shows that price action in October is breaking a prevailing pattern of lower highs and lower lows.- The lows have been getting slightly higher since the low of 98.85. However, the highs were still getting lower. - This week, price reached the September high. - Now price is neutral, threatening to turn bullish.- A break above 104 essentially completes a price bottom and opens up the 107.65 area. NFP could play a role:- The US Non-Farm payroll report due Friday (10/7) during the US session could help the market decide whether the current bottom-building upswing will extend or fizzle. Forecast: 171KAugust: 151KThe NFP numbers have been showing growth, but not at a strong enough pace that would signal a Fed hike. Ultimately its whether the FOMC will feel comfortable raising rates. A reading that is close to 200K or above should push the USD/JPY towards the next resistance at 107.65A reading below 170K however would likely stall the current rally. A readying below 150K should pressure USD/JPY back towards 102, which is the middle of the current range roughly between 100 and 104.US NFP in the past 12 months:(tradingeconomics.com)