Close to expectations; not sure what USD/JPY doesn’t like

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Payrolls were almost spot on expectations though there were large upward revisions to November and December.

USD/JPY is showing the most reaction, presumably reacting to the uptick in the unemployment rate to 7.9% which leaves the Fed on cruise control, buying $85 bln in Treasuries from here to eternity. And that ain’t exactly a surprise…

91.85 is near-term support in USD/JPY.



Jamie Coleman


  1. Probably just following the treasury move..

  2. … And you are naming just one of the reasons I dislike trading the NFP: you never know which is the loser until Mr Market finds a direction… after FED QE infinity you never know if good news are really good news and vice – versa, and today’s NFP is a good number and higher revisions add to it. Anyway I’m long from few days ago on NZDUSD and S&P500… But closed long EUR positions just before the outcome. Have a nice day.

  3. It´s called profit taking….

  4. Not sure it’s profit taking, in fact stock futures and bonds are both going up.


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