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Price volatility and trading range after NFP news event was somewhat low in USD pairs, as compare to normal NFP volatility, which indicates that that investors are laser focused on this weekend’s Greek referendum.
U.S. companies added 223,000 jobs in the month of June, pushing the unemployment rate down to 5.3%. While encouraging this improvement in the jobless rate also reflects a sharp decline in participation. The labor force participation rate fell to 62.6%, the lowest level since 1977 while average hourly earnings growth stagnated. As a result US Dollar fell across the board, but the decline was not lackluster.
From technical perspective, USDJPY have plenty of room to drop further towards 121.25 to 120.75 zone, whereas on the upside 124.35 to 124.75 should act as resistance.
U.S. companies added 223,000 jobs in the month of June, pushing the unemployment rate down to 5.3%. While encouraging this improvement in the jobless rate also reflects a sharp decline in participation. The labor force participation rate fell to 62.6%, the lowest level since 1977 while average hourly earnings growth stagnated. As a result US Dollar fell across the board, but the decline was not lackluster.
From technical perspective, USDJPY have plenty of room to drop further towards 121.25 to 120.75 zone, whereas on the upside 124.35 to 124.75 should act as resistance.
