USD/JPY is little changed after Friday's job report, trading up to 109.95
before the data release and 109.76 after. Analysts say the report is likely to
have a minimum effect on markets since the Fed isn't likely to alter its policy
stance based on the release. The Labor Department said employers added 225,000
jobs in January, versus economist estimates of 158,000. The WSJ Dollar Index was
recently at 91.48.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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