The NFP was weaker. The Unemployment and Underemployment improved to 8.2% (from 8.3%) and 14.5% (from 14.9 last month).
Topside trendline on the hourly chart is being breached at the 1.3094, but the 1st move above has found sellers. A move above this level will target the key 1.3147 level which is the 100 day MA. A move above this level would not be welcomed by the strong sellers this week.
The USDJPY fell below yesterday’s low at the 81.82, but could not get below the low for the week (yet) at the 81.54 level. The topside resistance now comes in at 81.95-82.07, which is the 38.2%/50% of the move to the 81.59 low.
There seems to be enough ambiguity in the report for the market to sit down and call it a day soon. We will see.
