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The sharp fall from 93.74 indicates that an intraday top is in place in USD/JPY and turns bias neutral. Note that a break of 90.08 support will argue that rise from 87.36 has completed on bearish divergence condition in 4 hours MACD already. Further break of 91.24 support will confirm…

GBP/USD’s strong rebound and break of 1.6057 resistance suggests that pullback from 1.6237 has completed at 1.5896 already. Whole rebound from 1.5829 is possibly resuming and intraday bias is flipped back to the upside for 100% projection of 1.5829 to 1.6327 from 1.5896 at 1.6304. But upside should be limited…

Dollar spikes lower after Non-Farm Payrolls shocked the market by showing -85k contraction in December. Nevertheless, November’s data was revised up to 4k, which was the first expansion since Jan 2008. Unemployment rate was unchanged at 10.0%. The Japanese yen is mildly higher on risk aversion. Also released in US…

Another failed attempt at the 1.4446 level, its Aug 05?09 high saw the pair turning down sharply lower Thursday to close at 1.4298. With this price development, risk continues to point lower putting further downside pressure on its Dec 22?09 low at 1.4254 at first and then its Dec 22?09…

Despite the pair?s current strength in early trading today as long as it holds below the 1.6234/39 levels we see risk towards its key support located at the 1.5830 level, its Dec 30?09. Below the latter level will set the stage for the resumption of its declines activated off the…

Today’s world’s largest economy Jobs Report will be released, which was patiently awaited for and highly predicted to display once again to which extent the country’s labor market remains on being deteriorated despite extreme slender signs of improvement, knowing that this is the major obstacle postponing a full and strong…

* Times listed are GMT

The Cable has risen during the day and recorded a high of 1.6036. Further upside is likely to be contained near the Max High for the day which is at 1.6082. A rise therafter, though not likely, may meet the channel Resistance on the daily candles near 1.6180. The pair…

Immediate dollar direction will inevitably be determined by the payroll data. Forecasts are dangerous at best, but the net risk is for some disappointment on the headline figure, especially given market expectations of a firm figure which would hurt the dollar. The dollar will continue to gain important support from…

Japanese Finance Minister Kan may have pared back his remarks regarding the yen but not before his stall had been clearly laid out. It is not uncommon for a newly posted official to under-estimate the power of his remarks on the fx market. Yesterday?s comment from Kan suggesting he favoured…