US jobs report is due at the bottom of the hour

It’s non-farm payrolls Friday but it’s also Good Friday and that means most markets are closed.

The jobs report will land in a thin market and if you’re trading it, beware of light liquidity and exaggerated moves. The consensus estimate is +650K and there’s a full preview here. Unemployment is expected to fall to 6.0% from 6.2%.
US unemployment rate

USD/JPY is the classic spot to watch through the report and it’s usually a straight-forward reaction: Higher if it’s stronger, lower if it’s weaker. It’s trading at 110.53. Technically, Wednesday’s high is the best in a year at 110.97 and a key spot of resistance. Support would be the low of 110.27 from Wed followed by the 110.00 figure.

USDJPY

EUR/USD is a similar setup as Wednesday’s long-term low of 1.1704 is support. Spot is at 1.1722. Eye resistance at 1.1805, which is last Friday’s high and the downtrend.

EURUSD

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