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Initial reaction...dollar down on the weaker employment

Discussion in 'Technical Analysis' started by ForexLive, Oct 7, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Seeing a reactionary rebound The initial reaction on the dollar was to the downside in the dollar on the weaker than expected nonfarm payroll. The USDJPY Phil to 103.22. But has rebounded back to 103.60 which is the 100 day moving average line. That level is finding sellers on the first look and we are seeing a move back down. The 103.00 level is the 100hour MA and support.

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