EUR/JPY Quick Update

Today's Pivot Points:
R3 = 165.91
R2 = 165.39
R1 = 164.93
PP = 164.41
S1 = 163.95
S2 = 163.43
S3 = 162.97

For today, we have the marquee event of the week namely the NFP. Should job growth is greater than 100k, we expect the dollar to make a recovery, albeit for short term only. However should job growth rise by less than 70k, we could see the dollar fall back to its record lows against the majors. For EUR/JPY however, the movement is pretty much depended on the reaction at the Dow Jones..The weaker number could trigger a move higher for the Dow amidst expectations of another rate cut.

Bought at 164.84..closed at 165.34 (50 pips)