"Danger Will Robinson"
The dollar is still making its mind up about the numbers but this is going to be one hell of a warning sign for USD bulls if we don't make gains, or at least stay bid on these wages numbers. If they came pre-Dec FOMC, the buck would be 100+ pips higher now.
As I type we're hitting new highs so maybe the ball is starting to roll.
USDJPY H1 chart
We're meeting minor resistance around a trendline from Dec with further resistance at 116.75/80.
If we don't see this rally at least take and hold that area, and maybe 117.00, we could be in for a sharp reversal based again on the evidence of the PA following other data points this week.
