USD/JPY advances through 123.00 after nonfarm payrolls

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The US dollar picked up some pace versus the yen and climbed to fresh daily highs after the release of a better-than-expected US nonfarm payrolls report.

    US economy added 211,000 new jobs in November, surpassing expectations of 200,000 but down from a 298,000 gain (revised up from 271,000) in October. The unemployment rate was steady at 5.0% as expected.

    USD/JPY broke decisively above 123.00 and climbed to a peak of 123.36, completely erasing previous day’s losses. At time of writing, the pair is trading at 123.25, recording a 0.54% gain on the day.

    USD/JPY levels to watch

    In terms of technical levels, next resistances are seen at 123.74 (Nov 18 high), 124.15 (Aug 20 high) and 124.45 (Aug 19 high). On the flip side, supports could be faced at 122.20 (Nov 16 low), 121.73 (100-day SMA) and 121.53 (200-day SMA).
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