Despite tough winter conditions, February non-farm payrolls rose 295K and unemployment ticked down to 5.5%, a level touted by some officials as a "normal unemployment level". Average hourly earnings slightly disappointed, but that didn't stop the Dollar from gaining 100-150 pips across the board.
USD/JPY broke the New Year high near 120.75 then 121 level and traded up to 121.27. It stopped just ahead of weekly resistance 3 and is now in retreat. 120.75 should now act as support, as should broken…
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