Vantage FX (www.vantagefx.co.uk) analyse the markets in light of Non-Farm Payrolls and the G20 meetings
Non-Farm Payrolls Week
In this part of the series we are looking at an hourly USD/JPY chart over the past week. We can see that from Monday onwards there is a gentle rally, until overnight last night when the pair went over the psychological (not technical) 100 level. When the European session opened this morning, USD/JPY went back down to the bottom of the Bollinger Band. A sell-off followed, with the price dropping down to 98.80, as the NFP figure disappointed at 169K and the participation rate fell to 63.2% of the US work force (the lowest rate since 1978). Another factor contributing to the sell off was the G20 - Putin said that Russia will continue to arm Syrian forces, and the US is advising their citizens not to travel to Lebanon or Turkey.
