Markets

Surprise NFP sends the dollar lower

EURUSD moves above the key ceiling area. USDJPY tumbles

The NFP was a surprise. The Unemployment rate was the one bright spot.

Technically, the price in the EURUSD moved up to the 1.1214-18 level stalled a little, and has moved above. The next target will be the 1.1282 level which is the low from May 13.  The 200 bar MA on the 4 hour chart comes in around the 1.1300 level. The 38.2% of the move down from the May high comes in around that level.   Close support now will be the May 23 high at the 1.1242.

The buyers are in control. The 1.1300 level is key target above.

On the USDJPY, the next target comes in at 107.64. That was the low from early in April. A move below that level will have traders looking toward newer lows.  

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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