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USD/JPY falls below 105.00 after NFP miss

FXStreet (Córdoba) - USD/JPY fell sharply and retraced previous days' gains as the dollar weakened across the board following the release of worse than expected US nonfarm payrolls data.

The US economy added 142,000 new jobs in August, missing expectations of a 225K gain and following a 212K rise in July (upwardly revised from 209K). Meanwhile, the unemployment rate edged lower to 6.1% as expected, from 6.2% the previous month.

USD/JPY fell to a 3-day low of 104.73, backing away from its 6-year high of 105.70 scored earlier on the day. At time of writing, USD/JPY is trading at 104.95, 0.29% below its opening price.

USD/JPY technical levels

In terms of technical levels, immediate resistances are seen at 105.70 (Sep 5 high) and 106.00 ahead of 106.15 (Oct 3 2008 high). On the other hand, supports are seen at 104.45 (10-day SMA) and 104.30 (Sept 2 low).

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