The USD/JPY pair lacked any firm directional bias
and remained confined in a narrow trading band, around mid-107.00s through the European session. A combination of diverging forces failed to assist the pair to capitalize on the previous day's modest uptick and led to a subdued/range-bound price action on the last trading day of the week.
Optimism over a potential COVID-19 vaccine, coupled with reviving hopes of a V-shaped global economic recovery remained supportive of the upbeat market mood. Friday's upbeat China Caixin Services PMI added to Thursday's stronger-than-expected US monthly jobs report and offered further evidence that the worse of the coronavirus pandemic was probably over.