#USDJPY @ 136.285 US economy adds 311,000 jobs in February; unemployment rate rises to 3.6%. (Pivot Orderbook analysis)

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• US economy adds 311,000 jobs in February; unemployment rate rises to 3.6%.
• US Dollar drops across the board, US yields hit fresh lows.
• USD/JPY falls below 136.00, flat for the week.

The pair currently trades last at 136.285.

The previous day high was 137.44 while the previous day low was 135.94. The daily 38.2% Fib levels comes at 136.51, expected to provide resistance. Similarly, the daily 61.8% fib level is at 136.86, expected to provide resistance.

The USD/JPY dropped to levels sub 136.00 following the release of the US employment report. The US Dollar weakened across the board while US yields hit fresh daily lows.

The US Bureau of Labor Statistics (BLS) revealed on Friday that Nonfarm Payrolls rose by 311,000 in February, above the market expectation of 205,000. January’s numbers were marginally revised from 517,000 to 504,000.

The Labor Force Participation Rate improved modestly to 62.5% from 62.4% in January and the Unemployment Rate rose to 3.6%. Average Hourly Earnings increased 4.6% from a year ago.

The US Dollar dropped to fresh lows across the board while US stock index futures turned positive. Markets are digesting the job’s report. The Yen benefit amid a decline in US Yields. The 10-year yield fell to 3.76% and the 2-year hit level under 4.70%.

The USD/JPY dropped almost a hundred pips after NFP. It was trading around 136.70 and bottomed so far at 135.83, slightly above the Asian session low.

The daily lows area in USD/JPY is being challenged at the moment, and a break lower could trigger an acceleration. On the upside, a recovery above 137.00 could strengthen the US Dollar, exposing weekly highs near 138.00.

Technical Levels: Supports and Resistances

USDJPY currently trading at 136.68 at the time of writing. Pair opened at 136.11 and is trading with a change of 0.42 % .

The pair is trading above its 20 Daily moving average @ 135.08, above its 50 Daily moving average @ 132.33 , above its 100 Daily moving average @ 136.11 and below its 200 Daily moving average @ 137.46

The previous day high was 137.44 while the previous day low was 135.94. The daily 38.2% Fib levels comes at 136.51, expected to provide resistance. Similarly, the daily 61.8% fib level is at 136.86, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 135.56, 135.0, 134.06
• Pivot resistance is noted at 137.05, 137.99, 138.55

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