04 April 2022, USD/JPY
USDJPY trading plan:
U.S. nonfarm payrolls rose by 431,000 in the month through mid-March, well below consensus forecasts for a rise of 490,000. However, the shortfall was completely offset by an upward revision of 72,000 to February's data, bringing the previous month's gain to 750,000. As a result, the unemployment rate fell to 3.6% from 3.8% in February, a little below forecasts for 3.7%. The U6 unemployment rate, which captures a broader range of under-employed people, also fell sharply to 6.9% of the workforce from 7.2%. Both numbers are the lowest since the start of the pandemic. Average hourly earnings also grew by more than expected, reflecting a further shift of the balance of power in the labor market toward workers.
Investment idea: buy 122.26 and take profit 123.02.
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