{"id":73432,"date":"2024-12-06T12:41:51","date_gmt":"2024-12-06T01:41:51","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73432"},"modified":"2024-12-06T12:41:52","modified_gmt":"2024-12-06T01:41:52","slug":"trade-usd-jpy-on-the-us-employment-data-2","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/trade-usd-jpy-on-the-us-employment-data-2\/","title":{"rendered":"Trade USD\/JPY on the US Employment Data"},"content":{"rendered":"\n<p>Financial markets are gearing up for a busy end to the trading week today, with the key US employment data due early in the New York session. The market expectation is for the headline Non-Farm Payroll (NFP) change to show an increase of 218,000 jobs in November, with the unemployment rate remaining steady at 4.1% and Average Hourly Earnings slowing to a 0.3% month-on-month increase.<\/p>\n\n\n\n<p>USD\/JPY has experienced significant movement over the past couple of weeks, dropping over 5% since reaching highs just above 156.50 in mid-November. If the data significantly deviates from expectations, traders anticipate strong moves in the pair.<\/p>\n\n\n\n<p>A strong print today could reduce expectations for a rate cut from the Fed in December, likely leading to dollar appreciation across the board. In this scenario, short-term resistance on the hourly chart, near the 200-day moving average, could be tested swiftly. Conversely, a weaker-than-expected print would bring short-term trendline support and this week\u2019s low sharply into focus, with breaks of these levels potentially opening the way for a broader move into a fresh range.<\/p>\n\n\n\n<p><strong>Key Levels<\/strong><\/p>\n\n\n\n<ul>\n<li><strong>Resistance 2<\/strong> \u2013 152.98 \u2013 Trendline Resistance<\/li>\n\n\n\n<li><strong>Resistance 1<\/strong> \u2013 150.87 \u2013 200-Day Moving Average<\/li>\n\n\n\n<li><strong>Support 1<\/strong> \u2013 149.02 \u2013 Trendline Support<\/li>\n\n\n\n<li><strong>Support 2<\/strong> \u2013 148.63 \u2013 Multi-Month Low<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/Yen-Hourly.png\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"557\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/Yen-Hourly-1024x557.png\" alt=\"\" class=\"wp-image-73433\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/Yen-Hourly-1024x557.png 1024w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/Yen-Hourly-300x163.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/Yen-Hourly-768x418.png 768w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/12\/Yen-Hourly.png 1044w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Financial markets are gearing up for a busy end to the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[462],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73432"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=73432"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73432\/revisions"}],"predecessor-version":[{"id":73435,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73432\/revisions\/73435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/73434"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=73432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}