Forex: USD/JPY edges lower after NFP

The dollar weakened slightly versus the yen and slid back below the 92.00 mark, after data showed the US economy added 157,000 new jobs in January versus expectations of a 160,000 gain. Even though the unemployment rate ticked up to 7.9% in January, December and November NFP figures were revised up.

USD/JPY dropped nearly 30 pips on the news, sliding to the 91.90 zone where the 20-hour SMA offered some support. However, as the figure was mainly in line with expectations, movements are rather limited. At time of writing, USD/JPY is trading at the 91.95/92.00 area, still up 0.3% on the day.