-
USD/JPY Surges to Retest 2-Year Highs Despite Weak US Jobs Data
The USD/JPY currency pair on Friday spiked to trade at a new 2-year high of about 112.210, despite disappointing US jobs data. The currency pair continues to trade within a sharply ascending channel formation in the 60-min chart. The pair found support off the 100-hour moving average to rigger the rally. It has now risen closer to the overbought conditions of the 14-hour RSI. Therefore, a pullback could be on the horizon. From a fundamental perspective, the USD/JPY currency pair is trading at the back of a relatively busy period in both markets. On Friday, the US non-farm payrolls for September plunged to 194k jobs, ... (full story)