Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD/JPY: supported by the NFP
Information is not investment advice
The NFP numbers were better than expected: 20.5mln jobs were cut against the 22mln estimate, with a 14.5% unemployment rate beating the forecast of 16%. As scary as they are, these figures are the best possible scenario, and the USD/JPY took that as such.
From the support at 106.33, the currency pair rose straight to 106.64, breaking the resistance of the 100-MA and 200-MA. The latter will likely serve now as a support level at 106.60 checking how firm the USD/JPY established itself at a higher base. If the market receives further positive news, it will likely push the USD/JPY back down in favor of riskier inclinations of investors.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?