FxWirePro: USD/ JPY drifts lower , could be on verge of a bigger drop

•  USD/JPY drifts lower on Friday  after data showed the US unemployment rate edged higher in November even though jobs increased more than expected last month.

• Nonfarm payrolls expanded by 227,000 jobs last month after rising an upwardly revised 36,000 in October, from 12,000.

• However, the unemployment rate increased to 4.2% after remaining at 4.1% for two months in a row, according to data . 

• Following payrolls, U.S. rate futures priced in an 87% chance that the Fed will decrease interest rates by 25 basis points (bps) at its policy meeting later this month.
 
• Immediate resistance is located at 150.91 (50%fib), any close above will push the pair towards 151.60 (Nov 28th high).

• Support is seen at 148.63 (23.6%fib) and break below could take the pair towards 147.37(Lower BB).

Recommendation: Good to sell  around 150.00, with stop loss of 151.00 and target price of 148.50