USDJPY and U.S. yields: Why did 158.80 fail?

Japanese wisdom says: “The hunter chasing a deer does not see the mountain” — 鹿を追う猟師は山を見ず.

USDJPY fell sharply after U.S. nonfarm payrolls declined by 23,000 in July. Wage growth was also weak, pushing Treasury yields lower and reducing support for the dollar.

Price rejected 158.80, broke below the hourly moving averages and briefly fell toward 156.65 before recovering to 157.75.

Holding above 157.40 could support a recovery toward 158.30. An hourly close below 157.40 would return attention to 156.65. A recovery above 158.80 would invalidate the post-NFP bearish structure.

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This material is intended for informational purposes only and does not constitute investment advice or a personalized investment recommendation.