USD/JPY extends the recovery on NFP

The greenback has gathered further traction following US labour market figures, lifting USD/JPY further north of the 103.00 handle.

USD/JPY bid post-Payrolls

The pair keeps the bid tone above 103.00 the figure after US Non-farm Payrolls showed the economy has created 161K jobs during last month, missing estimates at 175K and down from September’s 191K (revised from 156K).

Further data saw the jobless rate dropping to 4.9%, matching consensus and Average Hourly Earning rising at a monthly 0.4%, bettering forecasts.

In addition, the US trade deficit shrunk more than estimated to $36.44 billion during September, down from August’s $40.46 billion deficit.

USD/JPY levels to consider

As of writing the pair is up 0.11% at 103.09 and a break above 103.96 (20-day sma) would aim for 105.55 (high Oct.28) and finally 106.63 (200-day sma). On the flip side, the next support lines up at 102.66 (55-day sma) followed by 102.54 (low Nov.3) and then 101.18 (low Sep.7).