USD/JPY offered within familiar ranges on 119 handle

FXStreet (Guatemala) - USD/JPY is trading at 119.56, up 0.02% on the day, having posted a daily high at 119.80 and low at 119.25.

USD/JPY dropped from the 119.60’s after a series of data releases in the US left the greenback on the back foot. The pair has been choppy in thin markets over the holiday season but contained within familiar ranges and awaits the New Year for markets to get back to work.

In the New Year, key events start with the FOMC Minutes on Wednesday 7th Jan. Markets will be looking for impetus from them in respect to the language used and timings for rate hikes in 2015 from the Fed. There after, US Nonfarm Payrolls will be printed on Friday 9th Jan. Analysts at TD Securities explained that they are looking for a still solid, but more down to earth 215K headline gain for Dec after the huge 321K gain the month before, and with the unemployment rate remaining unchanged at 5.8%. “While our forecast is a little softer than the early consensus reading of 240K, this will still make for the strongest annual pace of job growth in 15 years”.