I have a few more holes in my body that I didn't have before 180k jobs were added in March. I got stopped out of GBP/USD and USD/JPY following a stronger than expected Jobs report this morning. The reaction was not as illiquid as we expected.

USD/JPY remains annoyingly below 119.35 resistance as EUR/USD is slightly below 1.3380 support. I do not believe the dollar has found a new life support here, rather dollar shorts covering positions ahead of the holiday weekend. So, should we come back Sunday night and find USD/JPY below 119.20 and EURUSD above 1.3355, we're going right back to work on the short dollars side.

Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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