Technical Levels for NFP

January 7 2022

It’s the first NFP Friday in 2022. The forecast is for an increase of 400K in December’s payroll and a drop in the unemployment rate to 4.1%. However, what are the technical levels we need to watch.


EURUSD immediate support remains at 1.1270 a break will open a test of 1.1220 support and possibly 1.1180 in extension.

Resistance remains at 1.1340 if broken you should see another run up towards 1.1390/1.1400 resistance.


While GBPUSD remains below 1.3560 there is a risk of a deeper correction to 1.3440 and possibly 1.3380 in extension.

If the pivotal resistance is broken at 1.3560 then 1.3610/20 would be the target.


USDJPY consolidating above 115.60/50 support, a break of this support could see a move to target 115.20 or 114.80 in extension.

Resistance remains at 116.40 a move above here would see a test of 116.80/117.00


Downside momentum continues to weigh on Gold

Resistance is now found at 1798.1800 and if broken you could see a move to 1808 or possibly 1818 should NFP disappoint.

Support is at 1786/1784, if broken the target will be 1774 or 1766 in extension.

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Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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