Dollar stays vulnerable to start the new week<p style="" class="text-align-justify">The solid US jobs report on Friday saw a brief reprieve for the dollar but that didn't last even by the end of the weekly close. Going into the report, I outlined <a href="https://www.forexlive.com/news/heres-why-the-us-non-farm-payrolls-may-not-be-the-dollars-saviour-20221202/" target="_blank" rel="follow">here</a> why the data may not be the dollar's saviour and ultimately, that seems to be the case.</p><p style="" class="text-align-justify">As things stand, the technicals aren't looking good for the dollar and it will take a lot more to spark a turnaround in sentiment. With it being the Fed blackout period and market players having to wait until 9 December for the <a href="https://www.forexlive.com/news/what-are-the-key-risk-events-left-for-the-dollar-this-year-20221121/" target="_blank" rel="follow">next key data release</a> in the US, trading this week is possibly going to focus on the dollar's vulnerability.</p><p style="" class="text-align-justify">USD/JPY in particular is a big one to watch as the pair is flirting with a potential breakdown below its 200-day moving average (blue line), now seen at 134.58. A firm break below the key level will allow sellers to set their sights on the 130.00 mark but before that, there is some minor support seen around the 16 June and 2 August lows at 131.49 and 130.39 respectively.</p>
This article was written by Justin Low at forexlive.com.
Source: Dollar stays vulnerable to start the new week (https://forexlive.com/news/dollar-stays-vulnerable-to-start-the-new-week-20221205/https://forexlive.com/news/dollar-stays-vulnerable-to-start-the-new-week-20221205/)
forexlive.com