Time to look at some numbers for today’s US jobs report
- May NFP 223k
- NFP expectations RTRS & BBG 195k exp.
- BBG hi/lo 247k/125k
- RTRS hi/lo 245k/144k
- Private payrolls 190k exp vs 218k prior
- Manufacturing payrolls 15k vs 18k prior
- Government payrolls 5k prior
- Average hourly earnings 0.3% exp y/y vs 0.3% prior
- 2.8% exp y/y vs 2.7% prior
- Average working hours 34.5 exp vs 34.5 prior
- Unemployment rate 3.8% exp vs 3.8% prior
- Participation rate 62.7% prior
- U6 underemployment 7.6% prior
As I said earlier, I’m struggling to see us getting a big move unless there’s some huge variations. We can but hope though.
If we do see some moves, here’s some levels to watch.
USDJPY
Up
- 111.00 (bit too close)
- 111.10/15 (recent high but again close)
- 111.35/40 (May hiigh)
- 111.50 (barriers)
- 111.90-112.00 (barriers)
Down
- 110.36 55 (H4MA)
- 110.25/30 (Jul lows bouncing off the 100 H4MA)
- 110.00/15 (200 DMA 110.13. 200 H4MA 109.98)
- 109.84 (55 DMA)
- 109.65/70 (supp)
- 109.30 (supp)
EURUSD
Up
- 1.1730/35 (too close)
- 1.1745/50 (res)
- 1.1785/90 (55DMA)
- 1.1800 (old res)
- 1.1830 (strong S&R)
- 1.1854 38.2 fib of April drop
Down
- 1.1670 (sup & 200 H4ma 1.1674)
- 1.1650 ( 55 H4MA 1.1647)
- 1.1630/40 (S&R. 100 H4MA 1.1633
- 1.1600 (sup)
- 1.1575/80 (sup)
There are just the main indicators and standout levels on my charts I use to gauge potential stretch points following data moves. It where I potentially look to fade a move. For today, I’m mainly looking towards the wider edged, 111.50 & 110.00 for USDJPY and 1.1800/30 & perhaps 1.1650 for EURUSD.
Good luck everyone.
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