Private sector employment change improved during July, rising to 163K after June's 64K, which was revised lower from 80K.

The Unemployment rate meanwhile edged up to 8.3% in July from 8.2% in June.

Interestingly enough, this is the best NFP figure in 5 months, and the worst unemployment data in 5 months.

It was not like there was a jump in participation rate.

"Both the civilian labor force participation rate, at 63.7 percent, and the employment- population ratio, at 58.4 percent, changed little in July..."

Source: Bureau of Labor Statistcs

Here is a look at some historic data of the NFP going back to July 2011:

Source: Tradingeconomics

The reaction in the currency market was mainly JPY-weakness across the board.

By 9:05AM EDT,

USD/JPY rallied sharply from 78.20 to 78.80
EUR/JPY rallied from 95.80 to 96.60
GBP/JPY pushed up from 121.70 to 122.45
AUD/JPY jumped from 82.25 to 82.90
CAD/JPY popped up from 78.00 to 78.75

Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes - provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.