Prepare for the US jobs report with a technical look at the EURUSD, USDJPY & GBPUSD

The U.S. jobs report will be released at 8:30 AM ET, with EUR/USD and GBP/USD trading between their 100- and 200-hour moving averages and near 50% retracement levels—technically a neutral stance. Markets await the report as a catalyst. A stronger-than-expected print (above 170K jobs, 4.1% unemployment) could trigger downside moves, while a weaker outcome may fuel upside momentum.

USD/JPY is trending lower, having fallen below its 100- and 200-day MAs at 152.60 and 152.73. Currently at 152.037, bears are in control. A strong jobs report may push it back above key resistance, but absent that, the downtrend could continue.

In this video higher when the key bias defining levels in the technical targets for each of those pairs so you can be aware and prepared of the roadmap through the mine fields from the data shove.

Looking at other markets going into the release:

US stock futures are mixed

• Dow industrial average futures are implying down -3.63 points (nearly unchanged)
• S&P index futures are implying a decline of -4 pointS
• NASDAQ index futures are implying a decline of -6 points

In the US debt market yields are mixed with the shorter end higher in the longer and lower

• 2 year yield 4.232%, +2.7 basis points
• 5 year yield 4.286%, +1.4 basis points
• 10 year yield 4.440%, +0.2 basis points
• 30 year yield 4.642%, -0.3 basis points

A snapshot of the other markets ahead of the release is showing:

• Crude oil plus $0.47 or 0.67% at $71.08
• Gold plus $5.77 or 0.20% at $2861.50.
• Silver -3 cents or -0.10% at $32.14.
• Bitcoin plus $1100 and $97,690

This article was written by Greg Michalowski at www.forexlive.com.