Forex: EUR/JPY rockets past resistance, trades at 96.64

FXstreet.com (Barcelona) - Following the release of the much-anticipated economic data in the United States this afternoon, the pair has rocketed upward, bolstered by solid results across the board. Having shattered resistance at 96.36 (calculated by Mataf.net), the pair's meteoric rise has not slowed as it edges higher at the time of writing.

In looking at the US economic indicators, the Average Hourly Earnings (MoM) came in at +0.1% in July, vs. a consensus of +0.2%. The pivotal Non-farm payrolls showed a figure of 163k in July, beating its consensus estimates of 100k, compared with 80k in the previous month. Finally the Unemployment Rate has risen to 8.3%, relative to consensus expectations and previous results of only 8.2%

Following the mixed data release in the US, the cross is trading at 96.64, streaming ahead at a rate of +1.38% at the present. According to the technical analysts at Mataf.net, the next calculated resistive measures will occur at the levels of 97.66 and ultimately 98.39. Regarding any downward movements, the EURJPY will fight supports at 94.34, 93.61, and finally 92.31.