According to the recent employment report published in Japan, the country’s rate of employment improved in January. With a glance at seasonality, the rate of unemployment declined by 4.2% (y/y). The actual figures matched analyst expectations.
Without seasonal correction, the rate of unemployment dropped down to 4.3%. Despite an overall decline in the total amount of employed Japanese (-0.3%), the amount of the unemployed declined by 5.6%.
At the same time, Japanese households are reported to have seen their income grow by 2.4% in January.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of USDJPY.
The closest levels of resistance are 94.14, 94.39. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 90.8 (as shown below). In this case, the closest levels of support will be found at 90.01 and 89.47.
