USD/JPY Responds to NFP Low, GBP/USD Reaches Key Extension
- GBPUSD hits April 2011 high, 61.8% extension from July low.
- USDJPY rebounds in line with global equities.
- USDJPY neutral until above 102.95 or below 100.75.
To keep up with developments central banks and their policy changes, be sure to sign up for my distribution list.
The US Dollar has rebounded in a light trading session (President's Day holiday in US), and although lighter volume moves tend to be less significant, there are still levels to respect. USDJPY has reacted to the post-NFP reaction low near ¥101.40, while GBPUSD has retraced from a key extension and former high near $1.6745.
--- Written by Christopher Vecchio, Currency Analyst
To contact Christopher Vecchio, e-mail email@example.com
Follow him on Twitter at @CVecchioFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.