The USD is mixed as North American traders enter for the day, with the major currency pairs trading in relatively narrow ranges ahead of the US jobs report at 8:30 AM ET. The EURUSD has traded in a 16-pip range between 1.1617 and 1.1633 and is little changed. The USDJPY has shown more movement, trading in a 68-pip range between 155.53 and 156.21, with the dollar gaining 0.27% against the yen. The GBPUSD is up 0.09% within a 26-pip range between 1.3523 and 1.3549.From a technical perspective, the narrow ranges leave the major pairs waiting for the next push. The employment report has the potential to trigger breaks of the session extremes, which would give traders the next directional clues. In the above video, I take a look at the three major currency pairs and outline the key technical levels in play for your trading. What will shift the bias, what are the current risks and the targets. If you don't know them and you solely react to the data, you may be selling against support or buying against resistance, which is often detrimental to your trading. . Be aware. Be prepared.So what is expecte in the US jobs report? Nonfarm payrolls are expected to rise by 56,000, with most forecasts clustered between 30,000 and 70,000. The unemployment rate is expected to remain at 4.1%, while average hourly earnings are forecast to increase 0.3% for the month and 3.0% year-over-year. A result near expectations may generate a limited reaction, as the Fed remains more focused on inflation and next week’s CPI report. However, a significant upside surprise could reverse some of yesterday’s Waller-driven market moves, while a notably weaker report could extend the decline in US yields and the US dollarUS Treasury yields are mixed ahead of the jobs report, with shorter maturities moving higher while the long end remains little changed:2-year yield: 4.349%, up 1.5 basis points5-year yield: 4.518%, up 0.9 basis points10-year yield: 4.764%, up 0.2 basis points30-year yield: 5.241%, down 0.2 basis pointsThe modest rise in shorter-term yields points to some caution ahead of the employment data, while the relatively steady long end leaves the yield curve with a slight flattening bias.The premarket for the US stocks, the futures are implying a mixed open with:Dow -63 pointsS&P up 1.29%Nasdaq up 105 pointsIn other news overnight, the RBNZ raised rates for a second consecutive meeting this week, but signaled that its next hike is more likely in December than October. Swaps price only a 31% chance of an October move, compared with near certainty by December. Policymakers still see upside inflation risks but want time to assess the impact of the recent hikes. For the NZD, the continued tightening bias provides some support, but the reduced likelihood of an October hike removes a near-term hawkish catalyst.Read the full InvestingLive article.The main Middle East development overnight was continued disruption to shipping through the Strait of Hormuz. Only four commodity vessels were observed crossing on Thursday, well below the 10-day average of 15, as the US-Iran conflict and blockade continue to restrict energy flows. Traffic through the Bab el-Mandeb Strait was also below average. The reduced shipping activity is keeping supply concerns elevated and helping oil prices remain on course for their strongest weekly gain since mid-July This article was written by Greg Michalowski at investinglive.com.