US jobs were much stronger, sending the US dollar higher. What are the technicals saying?

<p>The strong US jobs report has sent the US dollar sharply higher. What are the technicals saying: </p><p>For the EURUSD, the price is that they are testing its swing area down to 1.08038. Below that sets the 50% midpoint 1.07936 followed by the 100-day moving average of 1.07756. Get below each increases a bearish bias. Risk is the top of a swing area 1.0824 by the 200 day moving at a 1.0835. Sellers are more in control.</p><p>The USDJPY has moved sharply higher and is testing/breaking above a downward topping trendline on the hourly chart near 147.84 it above that level and traders will start to look toward the swing highs that have stalled the "ups" over the last few weeks of trading. The high price for the week was on Monday at 148.32. Get above that level and the high price for January is at 148.78.</p><p>The GBPUSD remains in its 1.2600 to 1.2800 level, but drifted back below the 100 and 200 hour moving averages near 1.2700. That shows the buyers back to the downside for the up-and-down currency pair. The 50% of the December trading range comes in at 1.2662. Get below that level and traders will start to look toward 1.2647 and then the 61.8% retracement of the same range of 1.2624. Sellers in control again, but it's hard to ignore the ups and downs in this currency pair.</p>

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