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USDJPY rises. USDCAD higher on weaker jobs
The USD is higher after the US employment report today showed higher than expected earnings and decent job growth. The unemployment rate did rise, and revisions were lower for NFP but still strong.
The EURUSD is trading at new session low after the report and in the process is moving away from its 100 hour MA at 1.16079. The price is also now on the lower side of the 50% retracement at 1.15941. That is a risk level for shorts now. The lows for the week are targets.
The USDJPY is trading near the highs as I type. In the early Asian session the price fell below the 100 day MA at 110.497, but that was short lived. The price is trading at the 50% retracement of the weeks trading range at 111.063. The 100 and 200 hour MA come in at 111.19 (for both). Move above and the buyers are taking more and more control.
USDCAD moved above the 100 hour MA at 1.31528. NAFTA agreement not looking good and the jobs data disappointed.
This article was originally published by Forexlive.com. Read the original article here.