Will the dollar-yen pair, which rebounded on the jobs report, hold steady in the 156-yen range?

Will the dollar-yen pair, which rebounded on the jobs report, hold steady in the 156-yen range?

07.09.2026 New

In U.S. currency trading on the previous business day, the U.S. dollar rose following the release of the August U.S. employment report. Nonfarm payrolls increased by 162,000 from the previous month, exceeding market expectations of a 56,000 increase.The unemployment rate remained flat at 4.1%, and July’s employment figures were revised upward from a decrease of 23,000 to an increase of 21,000. The USD/JPY pair traded within a range of approximately 1.47 yen, between 155.29 and 156.76 yen, and closed near 156.25 yen.The 156.75–157.00 yen range is likely to act as resistance, while the 155.80 yen level is expected to serve as support.

Among European currencies, the pound fluctuated against the U.S. dollar amid concerns over a deterioration in the UK construction sector. The UK’s August Construction PMI came in at 44.3, falling short of the market forecast of 45.5 and the previous reading of 44.7, and remained below 50—the threshold separating expansion from contraction—for the 20th consecutive month.The pound traded within a range of approximately 68 pips, between $1.3483 and $1.3551, before closing the previous trading day near $1.3523.While the $1.3550 level is seen as resistance, we will need to assess whether the $1.3480–$1.3500 range will hold as support.

Today’s economic indicators include Germany’s July industrial production data, which will be released at 3:00 p.m. and is expected to show a 0.2% increase month-over-month and a 0.0% increase year-over-year.At 6:00 p.m., the final figures for the eurozone’s April–June GDP will be released; they are expected to remain unchanged from the preliminary estimates, at 0.4% quarter-over-quarter and 1.0% year-over-year. Major U.S. stock markets will be closed for Labor Day, and trading volume is expected to be light during New York trading hours.Traders should be on the lookout for currency market volatility caused by European economic data releases and reduced liquidity.