08 May 2023, USD/JPY
USDJPY trading plan:
Nonfarm payrolls rose by 253,000 jobs, the US Labor Department employment fresh report showed. U.S. employers boosted hiring in April while raising wages for workers, pointing to sustained labor market strength that could see the Federal Reserve keeping interest rates higher for some time. The market is excited that maybe the Fed is done raising interest rates and that they're actually going to cut later this year, while at the same time the Fed is telling you that that's not really what their position is. And we have these job numbers that are showing that there's still some work to do. The yield on 10-year Treasury note rose and was last up 8 basis points from the close at 3.43%; The two-year U.S. Treasury yield was up 17 basis points from Thursday at 3.91%. This is a positive signal for the dollar.
Investment idea: buy 134.59 and take profit 135.17.
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