The US jobs report came and went with some initial volatility, but the price action has settled down. Where do we stand for some of the major currency pairs from a technical perspective?

EURUSD:The EURUSD moved up to a high of 1.08832 initially, and then rotated to the downside reaching loan .0844. The current prices trading at 1.0853. On the hourly chart there is some resistance near 1.08729. That level was broken on the spike higher but quickly reversed and now represents a potential resistance target once again. The high price from the European session today reached up to 1.08705 just short of that level (and respecting that level). If sellers are to make a play in the short term with work to do, they need to stay below that level. The High price from yesterday came in at 1.0853. That needs to be broken and stay broken below that the 61.8% retracement of the move down from the September 2024 comes in at 1.08174. Ultimately that level would need to be broken to give the sellers more control and confidence in the buyers some cause for pause.

USDJPY: The USDJPY is trading below a swing area between 147.21 and 147.34. Staying below that level is needed to keep the sellers fully in control. On the downside the 61.8% retracement of the move up from the September low comes in at 146.943. Getting below that and staying below that level increases sellers control and keeps the buyers on edge from a technical perspective.

GBPUSD:...more

Source: Forex Live