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6 Feb 2015
EUR/JPY dragged up by Yen on spectacular NFP's
FXStreet (Guatemala) - EUR/JPY, currently trading at 134.79, has risen sharply on the back of the US jobs performances for the month of January.
The spectacular jobs report took USD/JPY to 5 week highs, and in respect of the Nonfarm Payrolls results, analysts at Brown Brothers Harriman explained, that on balance, those who doubted a mid-year Fed hike have to reconsider. "We could expect the forward guidance at the March FOMC meeting to shift, and the "patience" diluted to something more data-centric. "
"The US created a net new 257k jobs in January, handily beating expectations, and in a month that has historically disappointed the consensus. An additional 147k jobs were added to the November and December reports, which makes its the strongest three months of jobs gains in the US since November 2008."
The Bulls for the cross will be looking for the euro to stablise here and the Yen to be pushed through the 19th Nov and 188.98 highs taking us back into bullish territory on he 119 handle and beyond. However, USD/JPY is currently stalling at this territory and key resistance zone while, similarly, the euro is supported at the mid point of the 1.13 handle, some way off Feb lows at 1.1292.
The spectacular jobs report took USD/JPY to 5 week highs, and in respect of the Nonfarm Payrolls results, analysts at Brown Brothers Harriman explained, that on balance, those who doubted a mid-year Fed hike have to reconsider. "We could expect the forward guidance at the March FOMC meeting to shift, and the "patience" diluted to something more data-centric. "
"The US created a net new 257k jobs in January, handily beating expectations, and in a month that has historically disappointed the consensus. An additional 147k jobs were added to the November and December reports, which makes its the strongest three months of jobs gains in the US since November 2008."
The Bulls for the cross will be looking for the euro to stablise here and the Yen to be pushed through the 19th Nov and 188.98 highs taking us back into bullish territory on he 119 handle and beyond. However, USD/JPY is currently stalling at this territory and key resistance zone while, similarly, the euro is supported at the mid point of the 1.13 handle, some way off Feb lows at 1.1292.