After weak U.S. economic data the day before, the dollar fell, but in Tokyo trading, USD/JPY stayed firm and reached 142.54 yen. In New York, jobless claims were higher than expected, and the rate dropped to 142.77 yen, but it didn’t fall below the Tokyo low and then bounced back.
News that U.S. President Trump and Chinese President Xi would have a phone call helped the dollar rise to 143.97 yen. Before the U.S. jobs report today, traders started to buy back dollars they had sold earlier.
The number of new jobs is expected to drop a lot compared to last month. Earlier this week, the JOLTS report was strong, but the ADP report was weak, so the market is waiting without a clear direction. Because many traders have already adjusted their positions, the market could move either way depending on the jobs report. Due to uncertainty about tariffs and the weekend, traders may avoid holding positions, and the market might end up where it started.
USD/JPY Expected Range: 141.90 – 144.50 yen
Note: This information does not guarantee profits. Please make your own decisions when trading.