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Forex: USD/JPY touches intra-day lows on NFP but recovers 96.00 area fast

FXstreet.com (San Francisco) - The USD/JPY reacted lower to the weaker-than-expected Non farm payrolls data in the US with the pair falling to break down the 96.00 level and reach fresh intra-day lows at 95.75. Currently the USD/JPY is trading back above the 96.00 area at 96.60.

NFP data came at 88k new payrolls in March, well bellow the 200K expected by market and bellow the 268K revised data of February.

With 0.30% gains on the day, the USD/JPY is slightly bearish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are bearish while the MACD is neutral and the Stochastic is bullish in the 1-hour chart.

Above the 96.40 level, next resistances are at 97.00 and 97.20. On the down side, 96.00, 95.75 and 95.65 are supports.

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