USD/JPY managed to trim losses and climbed back above the 99.00 mark following the knee-jerk reaction to the US NFP report. USD/JPY dropped over 100 pips and bottomed out at 98.89 weighed by weaker-than-expected US employment data for July, which was particularly disappointing after upbeat ADP and jobless claims data seen earlier this week. However, USD/JPY found support a few pips above the 200-hour SMA and bounced toward the 99.40 zone before stalling. USD/JPY levels to watch At time of writing, USD/JPY is trading at the 99.20 zone, still 0.3% below its opening price. Immediate supports could be found at 98.89/85 (daily low/200-hour SMA) and 98.40 (100-hour SMA). On the other hand resistances are seen at 100.00 (psychological level), 100.45 (Jul 24 & 25 highs) and 100.85 (Jul 19 high).