USD/JPY wavers after nonfarm payrolls report

USD/JPY wavered around the 116 mark, unable to set a clear direction in the minutes that followed the US nonfarm payrolls release.

US nonfarm payroll report showed US economy added 156,000 jobs in December 2016, bringing the annual total just below 2.2 million. This reading was below the 178,000 expected. However, November’s gain was upwardly revised to 204,000. Meanwhile, the unemployment rate inched higher to 4.7%.

USD/JPY oscillated between 115.70 and 116.40 and finally returned to pre-data levels around  116.10, where it still trades 0.67% higher on the day.

USD/JPY levels to watch

As for technical levels, next resistances could be found at 116.92 (20-day SMA), 117.42 (Jan 5 high), 118.17 (Jan 4 high) and 118.60 (Jan 3 high). On the flip side, supports are seen at 115.05 (Jan 6 low), 114.00 (Dec 9 low/psychological level) and 113.12 (Dec 8 low).