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USD/JPY spikes and slides following US jobs data
The immediate reaction in the USD/JPY to the latest US jobs numbers was messy to put it mildly. The USD/JPY initially fell and then spiked higher, to 147.96, only to slide back even faster. That saw the dollar slump to set a new 2025 low at 147.16, but it has lifted off that low now. The price action is as stated in the prior two updates; messy and hard to fathom, but overall this US jobs data has not delivered any gains in US yields and that is not good news for USD/JPY buyers it would seem. Hence, for the time being further downside risks for the dollar look to be still active. The USD/JPY is currently trading at 147.40
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