Posted 1/18/2024, 3:29:07 PM
Jobs Strength Supports Modest Rise in USD/JPY, Though Contrasting Data and Plunging Japanese Orders Add Uncertainty
- US jobs data shows continued labor market strength, supporting modest rise in USD/JPY
- Contrasting US economic indicators like housing and jobs data cause mixed impact on USD/JPY
- Japanese machinery orders plunge, reducing likelihood of BoJ policy normalization
- USD/JPY breaks above Ichimoku Cloud, indicating bullish momentum towards 150 level
- Potential downside retracement if 147.05 support breaks, opening path to 146.76 and 146.08