AUD has picked up a strong bid on a surprise drop in the Aussie unemployment report. The economy added fewer jobs that expected in February. Further, the labor force participation ticked lower and the quality of jobs deteriorated. That could cap gains in the pair. The Australian Bureau of Statistics reported a surprise drop in the jobless rate at 00:30 GMT, sending the Aussie dollar higher across the board. The AUD/JPY pair jumped 44 pips to a session high of 79.35 and was last seen trading at 79.30. The jobless rate, which was expected to remain unchanged at 5 percent, dropped to near eight-year low of 4.9 percent in February, signaling tightness in the labor market. That, however, may not weaken the odds of a near-term easing by the Reserve Bank of Australia, as the jobs growth was hardly impressive. To start with, the economy added just 4.6k jobs in February compared to 39.1K additions in January and more importantly, full-time jobs dropped by 7.3K, having surged by 65.4k in January. The AUD, therefore, may have a hard time extending or holding on to the gains seen at press time, unless the equities surge in response to the dovish Fed, strengthening the offered tone around the anti-risk JPY. Technical Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/NZD Technical Analysis: Break of 1.0365/70 can validate recent pullback after Aussie employment data FX Street 4 years AUD has picked up a strong bid on a surprise drop in the Aussie unemployment report. The economy added fewer jobs that expected in February. Further, the labor force participation ticked lower and the quality of jobs deteriorated. That could cap gains in the pair. The Australian Bureau of Statistics reported a surprise drop in the jobless rate at 00:30 GMT, sending the Aussie dollar higher across the board. The AUD/JPY pair jumped 44 pips to a session high of 79.35 and was last seen trading at 79.30. The jobless rate, which was expected to remain unchanged… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.