USD/JPY tumbles toward 149.00 after NFP

US Dollar drops sharply following a weaker-than-expected US jobs report.
USD/JPY has lost almost a hundred pips so far and is approaching weekly lows.

Matías Salord FXStreet

The USD/JPY tumbled from 150.20 to as low as 149.27 following the release of the US official employment report. The US Dollar experienced broad-based weakness after the numbers came in weaker than expected. Wall Street futures are up, extending the weekly rally. Commodity prices are also sharply up.

Nonfarm Payrolls rose by 150,000 in October, below the market consensus of 180,000. The unemployment rate also increased from 3.8% to 3.9%. These figures triggered a strong market response.

US yields collapsed, with the 2-year yield falling from around 5% to 4.85% and the 10-year yield dropping from 4.64% to 4.55%. The US Dollar Index broke below 105.40, reaching its lowest level since September 20.

The USD/JPY currently holds a bearish tone as it approaches 149.00, and a break below that level would bring the weekly low of 148.77 into focus. Consolidation around the current levels could indicate that the short-term trend is changing, which would be welcome news for Japanese officials. However, for this trend to continue, US bonds need to remain in demand.

Despite rising against the US Dollar, the Japanese Yen is falling against the rest of the G10 currencies on the back of risk appetite.

USD/JPY Technical levels

USD/JPY

Overview
Today last price	149.43
Today Daily Change	-1.01
Today Daily Change %	-0.67
Today daily open	150.44

Trends
Daily SMA20	149.8
Daily SMA50	148.58
Daily SMA100	145.68
Daily SMA200	140.29

Levels
Previous Daily High	150.97
Previous Daily Low	149.85
Previous Weekly High	150.78
Previous Weekly Low	149.32
Previous Monthly High	151.72
Previous Monthly Low	147.32
Daily Fibonacci 38.2%	150.28
Daily Fibonacci 61.8%	150.54
Daily Pivot Point S1	149.87
Daily Pivot Point S2	149.3
Daily Pivot Point S3	148.74
Daily Pivot Point R1	150.99
Daily Pivot Point R2	151.54
Daily Pivot Point R3	152.12

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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