USD/JPY extends sideways grind around 110.00 as investors ignore US data

• USD/JPY is having a difficult time finding direction on Thursday.
• Upbeat labour market data from the failed to help the USD find demand.
• US Dollar Index stays quiet around 92.50 ahead of NFP data.

The USD/JPY pair continues to fluctuate in a very tight range on Thursday and was last seen posting small daily gains at 110.03.

DXY holds steady near 92.50

Earlier in the day, the data from the US revealed that the Challenger Job Cuts fell to its lowest level since 1997 at 15,723 in August. Additionally, the US Department of Labor reported that there were 340,000 initial claims for unemployment benefits in the US during the week ending August 28, compared to the market expectation of 345,000. Finally, the US Bureau oıf Labor Statistics' publication revealed that the Unit Labor Costs increased by 1.3% in the second quarter.

Nevertheless, investors paid little to no attention to these figures ahead of Friday's highly-anticipated Nonfarm Payrolls (NFP) data and the US Dollar Index is moving sideways around mid-92s.

In the meantime, Wall Street's main indexes remain on track to open in the positive territory, suggesting that the risk-positive market environment is likely to limit the demand for both the USD and the JPY.

US August Nonfarm Payrolls Preview: Analyzing major pairs' reaction to NFP surprises.

Technical levels to consider