FXstreet.com (Barcelona) - USD/JPY has risen around 60 pips, from 99.69 to 100.27, reaching a fresh 5-month high after the US unemployment data release, to ease towards levels around 99.80/100.00 afterwards. The Pair has moved 0.15% up on the day from 99.70 opening price.
The U.S. unemployment rate continues growing fast, reaching 8.5% in March, the highest rate in the last 25 years, up from 8.1% in February and from 7.6% in January. Non-farm payrolls have declined by 663,000 in the month of march, according to data released by the U.S Department of Labor.
Yesterday, USD/JPY rose 1.18% from the opening price at 98.55, reaching 98.40 as lowest and 99.90 as highest, to close at 99.70.
According to Valeria Bednarik, FXstreet.com collaborator: USD/JPY remains bullish: The general trend remains bullish here, with the pair struggling around the 100.00 level, since past Asian session. 20 SMA is also acting as dynamic support here, keeping the bullish bias. Indicators seem to be a bit exhausted to the upside and suggesting some short term downside correction before next upside spike. Important resistance zone comes at the 100.60 tough zone, that should offer some rebound at least at the first attempt.
Valeria provides us with her levels: Support levels: 99.75 99.38 98.82. Resistance levels: 100.25 100.60 100.92.