Weaker than expected across the board.
The EURUSD has spiked above its 100 hour MA at 1.19372 after the weaker than expected employment report. The price has moved to the 61.8% of the move down this week at 1.1975. The 1.2000 level is the next target on a break higher.
The USDJPY has tumbled lower to the 100/ 200 hour MA levels between 109.537 and 109.72. A move below that area is more bearish. The 50% midpoint of the move up this week comes in at 109.456. A move below that opens the bearish bias more. RISK? The 109.76-819 is home to swing levels from last week (before Friday's surge higher). A move back above that level (yellow area in the chart below) will muddy the bearish water a bit.
