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6 Feb 2015
USD/JPY rockets higher after strong NFP report
FXStreet (Mumbai) - The USD/JPY report shot higher to trade above 118.00 levels after the labor department data in the US showed the economy added another 257K jobs in January, along with the biggest jump in the average hourly earnings since November 2008.
Treasury yields push up USD/JPY pair
The strong Non-farm payrolls data (NFP) report in the US pushed up the yields across the short-end and the long-end of the treasury market curve higher. The 10-year yield advanced 7.2 basis points to 1.887%, while the 2-year yield gained 8.8 basis points to 0.604%. Consequently, the USD/JPY pair rose to the session high of 118.32 levels.
Moreover, the USD strengthened across the board after the data showed the US economy added 257K jobs in January, while the December’s figure was revised upwards to 329K. Furthermore, the average weekly earnings rose 2.2% year-on-year.
USD/JPY Technical Levels
The pair now trades 0.71% higher at 118.35. The immediate resistance is seen at 118.629 (50-DMA) and 119.45 levels. On the flip side, support is seen at 117.98 and 117.66 levels.
Treasury yields push up USD/JPY pair
The strong Non-farm payrolls data (NFP) report in the US pushed up the yields across the short-end and the long-end of the treasury market curve higher. The 10-year yield advanced 7.2 basis points to 1.887%, while the 2-year yield gained 8.8 basis points to 0.604%. Consequently, the USD/JPY pair rose to the session high of 118.32 levels.
Moreover, the USD strengthened across the board after the data showed the US economy added 257K jobs in January, while the December’s figure was revised upwards to 329K. Furthermore, the average weekly earnings rose 2.2% year-on-year.
USD/JPY Technical Levels
The pair now trades 0.71% higher at 118.35. The immediate resistance is seen at 118.629 (50-DMA) and 119.45 levels. On the flip side, support is seen at 117.98 and 117.66 levels.