Non-Farm Payrolls (NFP) Preview: What to Expect on the USDJPY

Summary:
• The US Non-Farm Payrolls (NFP) report is to be released this afternoon, with analysts predicting a drop from +266K to +162K for the month of December.

The Non-Farm Payrolls (NFP) report for December 2019 is due for release at 2.30pm this afternoon. This release is coming a week later than usual as a result of the New Year holidays.

On the cards, we have analysts predicting a drop in the employment change from the last reading of 266K. This time around, polled economists think that 162K jobs have been added to the US economy, with unemployment rate expected to remain static at 3.5%.

The currency pair of interest is the USDJPY, and this is made more interesting by the fact that this pair has been stuck in a well-defined horizontal range for quite some time. This makes it easier to spot the price levels of interest. So what can we expect to happen on the USDJPY when the NFP is released?

Read our Best Trading Ideas for 2020.

The Non-Farm Payrolls (NFP) report for December 2019 is due for release at 2.30pm this afternoon. This release is coming a week later than usual as a result of the New Year holidays.

On the cards, we have analysts predicting a drop in the employment change from the last reading of 266K. This time around, polled economists think that 162K jobs have been added to the US economy, with unemployment rate expected to remain static at 3.5%.

The currency pair of interest is the USDJPY, and this is made more interesting by the fact that this pair has been stuck in a well-defined horizontal range for quite some time. This makes it easier to spot the price levels of interest. So what can we expect to happen on the USDJPY when the NFP is released?