FxWirePro: USD/JPY weakens after U.S. job growth data misses expectations

 • USD/JPY slipped lower on Friday  as the dollar dipped after data showed U.S. job growth slowed more than expected in January after strong gains in previous months.

• Nonfarm payrolls increased by 143,000 jobs in January, following an upwardly revised 307,000 rise in December, according to the Labor Department's Bureau of Labor Statistics.

 • The Labor Department's employment report  also showed strong wage growth, with average hourly earnings surging, helping to support consumer spending. The resilience of the labor market remains a key driver of economic expansion.

• At GMT 15:07, the pair was trading down 0.02 % at 151.31 . 

• Technical signals are  strongly bearish  as RSI is   at 31, daily momentum studies  5, 9 and 10 DMAs are trending down.
 
• Immediate resistance is located at 152.28 (38.2%fib), any close above will push the pair towards 152.82 (Feb 6th high).

•  Support is seen at 150.87(23.6%fib) and break below could take the pair towards 150.00 (Psychological level)

Recommendation: Good to sell  around 151.50, with stop loss of 152.20 and target price of 150.20