Forex: February’s Japanese unemployment rate comes out lower than expected at 4.6%

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The Japanese unemployment rate came out lower than expected at 4.6% from a predicted 4.9%. The lower than expected figure for the month of February shows that less people were unemployed than was predicted and as such acts as in a positive manner for the JPY.

 

The USDJPY is currently trading at 81.72 with limited movement, following on from yesterday’s US session at which the currency pair minimally deviated from this point. The USDJPY pair is currently close to a strong resistance level of 81.98 – which was the March 18th high that was reached subsequent to the all time low that was reached a few days prior to this.

 

The Japanese Unemployment Rate is release by the Ministry of Health, Labour and Welfare and shows the unemployment rate on a monthly basis of Japan. A higher than expected percentage will act negatively for the Japanese Yen as it shows a larger than expected number of Japanese civilians are jobless and hence are not contributing to the Japanese economic growth.