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 NFP FRIDAY: Key Technical Levels

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fxpulsation



Posts : 8759
Join date : 2012-01-25

PostSubject: NFP FRIDAY: Key Technical Levels   Fri Mar 07, 2014 8:38 am



NFP FRIDAY: Key Technical Levels

Here we have highlighted key levels to watch taking into consideration possible outcomes from this month's US employment figures...

Yen weakness has seen the USDJPY at 5-week highs which is impressive given the weakness of USD these past few weeks. 102.80 is a pivotal S/R level which should hold as support leading up to tonight's release. Due to Japan being export driven and US a consumer the USDJPY is one of the favoured pairs to trade during NFP and price action can seem 'cleaner' in the event of large moves.

A close this week above 102.8 will produce a Bullish Outside week (or engulfing) and may entice further buying next week.
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