March Payroll Follow-Up

Chart courtesy of eSignal

Well, the Non-Farm Payroll numbers blew away consensus. February's numbers were even revised upward, but because of the light volume on Friday explosive volatility was concentrated just to the majors. The EUR/USD has returned a strong support area at 1.3370, which is the Dec 4 swing high and 38.2% retracement level of the Mar 4 to Apr 5 rally.

JPY/USD should offer some interesting action. Currently the pair at the 61.8% retracement level of the Jan 29 - Mar 5 move. Any break fo this level should see the pair revisit the 120.00 level soon.

Happy Trading!!