7 Aug 2015
USD/JPY breaks above 125.00 after US nonfarm payrolls
FXStreet (Córdoba) - USD/JPY rose to retest the 125.00 area following the release of below expectations US nonfarm payrolls data. The pair was trading choppy and hit a low of 124.34 before bouncing sharply to 2-month highs above 125.00.
Nonfarm payrolls report showed the US economy created 215,000 jobs in July, below the 222,000 expected. However, June gain was upwardly revised to 231,000 from 223,000 previously estimated while May was also revised up to 260,000 from 254,000. Meanwhile, the unemployment rate to remained at 5.3 as expected.
Even though job gain came in below expectations, the reading won’t discourage those expecting a September rate hike by the Fed.
The dollar strengthened across the board and reached a peak of 125.06 against the yen. At time of writing, USD/JPY is trading at 124.98, 0.21% above its opening price.
USD/JPY levels to watch
As for technical levels, USD/JPY could find next resistances at 125.67 (Jun 8 high) and 125.85 (2015 high Jun 5). On the flip side, supports are seen at 124.53 (Aug 6 low), 124.15 (10-day SMA) and 123.79 (Aug 4 low).
Nonfarm payrolls report showed the US economy created 215,000 jobs in July, below the 222,000 expected. However, June gain was upwardly revised to 231,000 from 223,000 previously estimated while May was also revised up to 260,000 from 254,000. Meanwhile, the unemployment rate to remained at 5.3 as expected.
Even though job gain came in below expectations, the reading won’t discourage those expecting a September rate hike by the Fed.
The dollar strengthened across the board and reached a peak of 125.06 against the yen. At time of writing, USD/JPY is trading at 124.98, 0.21% above its opening price.
USD/JPY levels to watch
As for technical levels, USD/JPY could find next resistances at 125.67 (Jun 8 high) and 125.85 (2015 high Jun 5). On the flip side, supports are seen at 124.53 (Aug 6 low), 124.15 (10-day SMA) and 123.79 (Aug 4 low).