Time to get the chalk out and start marking the charts for the price levels that may or may not contain any moves over the NFP.

USD/JPY

  • 50.0 fib of the 2002 swing down has gone at 105.37. The 61.8 fib of the 2007 swing at 105.57 went by 14 odd pips. Mild resistance coming back in on the 2002 fib though.
  • Topside is pretty clear until the Oct 2010 high and 200 mma at 106.43/51
  • Support at 104.80/85 then 104.25/30, then 103.50
  • Expect decent demand in the dips though

EUR/USD

  • 1.2920 support won’t stand up to much, 1.2900 may be stronger but we’re not far so use caution trading against it. Like the topside in USD/JPY the downside in the euro is pretty devoid ot tech action until at least 1.2820, 1.2800, the 61.8 fib of the 2012 swing at 1.2787, then the April & july double bottom at 1.2750
  • Resistance may be pretty strong at 1.3000/1.3020 but the real strength will be at 1.3100 should we get there. Again, there will be good interest in selling any decent bounces

GBP/USD

  • We pulled up right on the the 38.2 fib of the July 2013 swing up at 1.6282 but the price is too close to use it again. 1.6260/50 is the next decent support, still possibly too close for comfort. 1.6172 is the former Aug 2009 resistance line which has seen support after the break in Oct 2013
  • Given the recent falls we’ve potentially got a large clear space up until 1.6465 so look to 1.6400 as the first natural resistance point then 1.6430/35

USD/CAD

Potential for some two way action as the BOC employment numbers are out as well

  • On the shorter timeframes we have the 55, 100 and 200 h1 ma’s in close proximity at 1.0885/90, the 55 h4 and 200 h4 and daily ma’s at 1.0896. The 100 h4 is at 1.0908. They won’t stand up to much if the US and CAD numbers are well outside of expectations but may well have a say if we’re close to estimate. If anything, look at these levels when things settle down
  • 1.0800/10 is still strong down below as is 1.0950 and 1.100 above

Sorry

;-)