NFP FRIDAY: Key Technical Levels

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.