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USD/JPY falls sharply in early US session and is set to dip further. Break of 89.99 minor support will suggest that recovery from 89.44 has completed at 91.26 already and will flip intraday bias back to the downside. As noted before, we’re still favoring the case that choppy rise from…

Yen rebounds sharply on risk aversion follow worst than expected non-farm payroll report from US. Job market contract slightly more than expected by -190k in October, worse than consensus of -165K. Though, that was somewhat leveled off by upward revision of September’s number from -263K to -219K. Nevertheless, the shock…

Overall, the overnight session proved to be very slow in the currency market, with the major pairs moving on thin momentum. The same trading behavior was seen during the prior day of trading, when the currency market on Thursday barely moved. The chances are that the market will start to…

Investors are waiting impatiently for the infamous jobs report, as it should provide a better picture for the current conditions in the U.S. labor market, though we all know that the labor market is still under pressure from the ongoing economic weakness and will probably remain under pressure over the…

* Times listed are GMT

Cable traded in a narrow range through the day moving between 1.6588 to 1.6635 as the Resistance at 1.6642 continued to hold. Simultaneously it is taking Support immediately from the trendline on the hourly chart, formed by connecting the lows of 1.6260 (3-Nov), 1.6465 (5-Nov), 1.6488 (5-Nov) and 1.6588 (6-Nov)…

Short-term dollar direction will inevitably be determined by the US payroll report. A better than expected report would tend to support risk appetite and also maintain the risk of dollar selling while a weak report would tend to increase risk aversion. There will still be important risks surrounding the Euro-zone…

The pair remains hesitant giving back its intra day losses to test a high of 1.4917 before closing marginally higher at 1.4876 on Thursday. Though currently trading above its key resistance at the 1.4844 level, a firm hold above there is required to signal further upside strength. Potential for additional…

Although USDJPY reversed its intra day losses to close higher on Thursday, while holding below the 91.31 level and within its falling channel, threats remain to the downside. With weakness currently seen, lower prices should develop towards the 90.06 and the 89.97 levels with a clearance of there targeting the…