#USDJPY @ 132.091 climbed on an initial reaction to the US Nonfarm Payrolls headline. (Pivot Orderbook analysis)

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• USD/JPY climbed on an initial reaction to the US Nonfarm Payrolls headline.
• The US economy added fewer jobs than forecasts in March, but the US Dollar advanced.
• The Unemployment Rate remained steady while Average Hourly Earnings dipped.

The pair currently trades last at 132.091.

The previous day high was 131.91 while the previous day low was 130.78. The daily 38.2% Fib levels comes at 131.48, expected to provide support. Similarly, the daily 61.8% fib level is at 131.21, expected to provide support.

The USD/JPY is rising sharply after the US Nonfarm Payrolls report showed that the labor market continued to slow down but was a whisker below expectations. At the time of writing, the USD/JPY trades in a wide range of 131.53-132.40, above its opening price.

The US Bureau of Labor Statistics (BLS) data showed that employment in March decelerated to 236K, below the 240K expected by the street, and trailed 311K jobs added in February. Average Hourly Earnings came at 4.2% YoY, below expectations of 4.3%, while the Unemployment Rate was 3.4% YoY, 0.2% below the 3.6% foreseen.

The USD/JPY jumped from around 131.50, a tick above the central daily pivot point at 131.48, and broke above the previous three-day high of 131.93, and did not look back on the reaction to the headline. On its way north, the USD/JPY cleared the R1 daily pivot point at 132.18 but fell short of testing the R2 pivot at 132.60. A clear breach of the latter, and the USD/JPY could test April 4 133.16 daily high before challenging the R3 pivot at 133.31. On the flip side, a fall below 132.00 will expose the daily pivot at 131.48, followed by the S1 pivot at 131.06.

Technical Levels: Supports and Resistances

USDJPY currently trading at 132.24 at the time of writing. Pair opened at 131.79 and is trading with a change of 0.34 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 132.31, 50 SMA 133.08, 100 SMA @ 133.56 and 200 SMA @ 137.24.

The previous day high was 131.91 while the previous day low was 130.78. The daily 38.2% Fib levels comes at 131.48, expected to provide support. Similarly, the daily 61.8% fib level is at 131.21, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 131.08, 130.36, 129.95
• Pivot resistance is noted at 132.2, 132.62, 133.33

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