Close to expectations; not sure what USD/JPY doesn’t like
Payrolls were almost spot on expectations though there were large upward revisions to November and December.
USD/JPY is showing the most reaction, presumably reacting to the uptick in the unemployment rate to 7.9% which leaves the Fed on cruise control, buying $85 bln in Treasuries from here to eternity. And that ain’t exactly a surprise…
91.85 is near-term support in USD/JPY.