USD/JPY climbs to daily highs near 106.50 after US NFP report
- USD/JPY is rising toward 106.50 in the early American session.
- US Dollar Index climbed above 93.00 after US jobs report.
- Unemployment Rate in US dropped to 8.4% in August.
The USD/JPY pair gained traction in the early American session on Friday and climbed to a fresh daily high of 106.47. As of writing, the pair was up 0.25% on the day at 106.44.
US NFP report lifts mood and USD
The upbeat August jobs report from the US on Friday provided a boost to the greenback. The US Bureau of Labor Statistics announced that Nonfarm Payrolls in August increased by 1.37 million and the Unemployment Rate declined from 10.2% to 8.4% despite a 0.3% increase in the Labor Force Participation Rate.
With the initial reaction, the US Dollar Index (DXY) turned north and broke above 93.00. As of writing, the DXY was up 0.3% on the day at 93.07.
Meanwhile, the S&P 500 futures turned positive on the day after the data and revealed a positive shift in the market sentiment. If risk flows start to dominate the markets following Wall Street's opening bell, we could see USD/JPY extend its rally. Reflecting the upbeat market mood, the 10-year US Treasury bond yield is up nearly 5% on the day.
Technical levels to watch for
USD/JPY
| OVERVIEW | |
|---|---|
| Today last price | 106.45 |
| Today Daily Change | 0.26 |
| Today Daily Change % | 0.24 |
| Today daily open | 106.19 |
| TRENDS | |
|---|---|
| Daily SMA20 | 106.12 |
| Daily SMA50 | 106.45 |
| Daily SMA100 | 106.93 |
| Daily SMA200 | 107.92 |
| LEVELS | |
|---|---|
| Previous Daily High | 106.55 |
| Previous Daily Low | 106 |
| Previous Weekly High | 106.95 |
| Previous Weekly Low | 105.2 |
| Previous Monthly High | 107.05 |
| Previous Monthly Low | 105.1 |
| Daily Fibonacci 38.2% | 106.21 |
| Daily Fibonacci 61.8% | 106.34 |
| Daily Pivot Point S1 | 105.94 |
| Daily Pivot Point S2 | 105.7 |
| Daily Pivot Point S3 | 105.39 |
| Daily Pivot Point R1 | 106.49 |
| Daily Pivot Point R2 | 106.79 |
| Daily Pivot Point R3 | 107.04 |
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