- USD / JPY struggles to make a decisive move in either direction on Friday.
- Nonfarm payrolls in the US increased by 245,000 in November.
- The US Dollar Index remains depressed near 90.50 after the data.
The pair USD/JPY It shot to a fresh daily high of 104.12 on knee-jerk reaction to the November US jobs report, but struggled to preserve its bullish momentum. At time of writing, the pair was posting small daily gains at 103.92.
DXY is not retrieved after NFP report
Data released by the US Bureau of Labor Statistics showed that non-farm payrolls (NFP) in the US increased by 245,000 in November. This reading disappointed the market expectation of 469,000 by a wide margin. Additionally, the unemployment rate dropped to 6.7% from 6.9%, but this was likely due to an observed 0.2% decrease in the labor force participation rate.
Despite the disappointing NFP reading, S&P 500 futures remain in positive territory ahead of the opening bell.
On the other hand, the US Dollar Index (DXY), which rose to a session high of 90.76, struggled to remove the downward pressure and was last seen losing 0.18% on the day.
Meanwhile, the 10-year US Treasury yield is up more than 5% on the day and could help USD / JPY regain 104.00 if it manages to keep rising in US trading hours.
Technical levels
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