US jobs report is due at the bottom of the hour
It’s non-farm payrolls Friday but it’s also Good Friday and that means most markets are closed.
The jobs report will land in a thin market and if you’re trading it, beware of light liquidity and exaggerated moves. The consensus estimate is +650K and there’s a full preview here. Unemployment is expected to fall to 6.0% from 6.2%.
USD/JPY is the classic spot to watch through the report and it’s usually a straight-forward reaction: Higher if it’s stronger, lower if it’s weaker. It’s trading at 110.53. Technically, Wednesday’s high is the best in a year at 110.97 and a key spot of resistance. Support would be the low of 110.27 from Wed followed by the 110.00 figure.
EUR/USD is a similar setup as Wednesday’s long-term low of 1.1704 is support. Spot is at 1.1722. Eye resistance at 1.1805, which is last Friday’s high and the downtrend.
This article was originally published by Forexlive.com. Read the original article here.