7 Jun 2013
USD/JPY wavers sharply after NFP
FXstreet.com (Córdoba) - The USD/JPY seesawed wildly after data showed US economy created 170,000 jobs in May, while unemployment rate slipped to 7.1%, beating expectations.
As investors assess employment figures - data was strong but not enough to warrant the Fed tapering QE - USD/JPY attempted to rally and reached 96.37 as knee-jerk reaction, but quickly turned lower hitting a fresh 2-month low of 94.93.
At time of writing, the pair is trading around 95.60, right where all started but 1.4% below its opening price. As for technical levels, on the downside supports are seen at 94.93 (daily low), and 94.50 (Feb 25 high), while resistances could be found at 97.00 (psychological level) and 97.50 (daily high).
As investors assess employment figures - data was strong but not enough to warrant the Fed tapering QE - USD/JPY attempted to rally and reached 96.37 as knee-jerk reaction, but quickly turned lower hitting a fresh 2-month low of 94.93.
At time of writing, the pair is trading around 95.60, right where all started but 1.4% below its opening price. As for technical levels, on the downside supports are seen at 94.93 (daily low), and 94.50 (Feb 25 high), while resistances could be found at 97.00 (psychological level) and 97.50 (daily high).