USD/JPY and what’s expected from the NFP?

145
The USD/JPY hasn't dropped like the other dollar crossed yet, but could we potentially see a clean break down below 142.50 support? Well, we will need to see a big miss on the NFP print for that to potentially happen.

The consensus is for a 110K increase in non-farm payrolls, but recent data has been less than convincing. The ADP private payrolls figure released yesterday registered its first decline in over a year, stoking concerns that today’s number might fall short of expectations — potentially even slipping below 100K.

On the unemployment front, a slight uptick to 4.3% is anticipated, up from 4.2%, while Average Hourly Earnings are seen rising 0.3% month-on-month vs. 0.4% increase the month before.


By Fawad Razaqzada, market analyst with FOREX.com

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