US nonfarm payrolls rose by 222,000 jobs in June, buoyed by hefty gains in the healthcare and services sectors according to data delivered by the Bureau of Labor Statistics on Friday. Last month’s reading was the second biggest payrolls increase of the year and easily topped economists' expectations of a rise of 179,000.
While the unemployment rate edged slightly higher to 4.40% from May’s 16-year low of 4.30%, it was largely the function of more people looking for work. The strong jobs data suggests the Federal Reserve will stick to its objective of a third interest rate hike this year alongside some efforts to trim the balance sheet. USDJPY was last seen around 114.250, with the pair facing strong resistance around 114.400 on the upside, a break above which could unlock additional gains.