The USDJPY is higher after the better jobs growth in December. The pair did have some up and down volatility in the first few minutes as the market struggled with the lower wage data. The prior month average hourly earnings was lowered from +0.4% to +0.2%. The current month wages fell by -0.2%. The YoY is a low 1.7% increased. Not great news given job gains, but job growth is job growth. It is better than stagnant gains.
USDJPY moves up to the 200 hour MA and stall. 100 hour MA and 50% is now support.
From a technical perspective, the USDJPY has moved as high as the 200 hour MA (green line in the chart above). That level comes in at the 119.71. The high off the move higher came in at 119.744. The 100 hour MA (blue line in the chart above) comes in at the 119.31 level. This will be eyed as support today (go down to 119.28 as it is the 50% of the days trading range). If the buyers are to remain in control, I feel staying above this level is the risk now.
