USD/JPY falls through 103.00 after NFP

USD/JPY fell sharply  and hit fresh 2-day lows immediately after the US government reported a slower than expected job growth in August.

USD/JPY dipped below the 103.00 level and stretched to a low of 102.79 from 103.47 pre data, although it quickly managed to take back some losses. At time of writing, the pair was trading at 103.15, still a few pips below its opening price.

US nonfarm payrolls rose by a seasonally adjusted 151,000 in August, slowing from July’s 275,000 and  below the 180,000 expected by analysts. The unemployment rate stood unchanged at 4.9%.

USD/JPY levels to watch

In terms of technical levels, next supports are seen at 102.65 (50-day SMA), 101.82 (10-day SMA) and 101.00 (psychological level). On the flip side, resistances could be faced at 103.54 (Sep 2 high), 103.99 (Sep 1 high) and 105.36 (100-day SMA).