All quiet in Europe amid the Easter holiday

It is Good Friday today and most European markets are observing a holiday, with FX being the only notable market open ahead of the weekend.

The dollar is keeping steadier with little change observed across the board after a pullback yesterday, with Treasuries seeing a bid before the extended break.

Most dollar pairs are sitting within a 0.1% change at the moment, reflecting a lack of interest amid thinner liquidity conditions with all eyes on the US payrolls later today.

If anything, there might be outsized moves on dollar pairs depending on the nature of the surprise. Otherwise, it may be more of a fluff and a whimper before the week officially comes to a close later in the day.

Watch out for USD/JPY as it continues to hover below 111.00 with resistance seen around 110.84-96 and near-term support seen closer towards 110.42-43 and then the 23.6 retracement level and 100-hour moving average @ 110.36-37.

USD/JPY H1 02-04

Despite a bit of a pullback in the dollar over the last two days, the greenback is still headed for a third straight weekly gain – the first time since February last year.

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