The GBP was the best mover to start the week and this extended the recent breakout on the Cable and triggered a new breakout on the GBP/JPY. The US$ is little changed and most other instruments remain trading in fairly narrow ranges.

Risk appetite was buoyed last session following the positive print of US weekly jobs data and this seems to have boosted optimism about Friday’s monthly jobs report. The US$ closed lower helping Gold and the commodity currencies.

There has been some US$ weakness to start the week. I’m reading this was due to poor US data BUT I would posit it could also be due to the daily Ichimoku Cloud acting as decent resistance just above current price action. I Tweeted yesterday to watch for any pause on the USD/JPY, given the […]

There hasn’t been much movement on the instruments I monitor but it is interesting to note how key S/R levels are coming into play for a number of them.The drill is always the same:watch for any momentum-based trend line breakout.

The US$ traded lower following FOMC as the Fed Chair reaffirmed an accommodative approach to interest rates. The US$ weakness has helped a number of FX pairs but the Kiwi was probably the best performer on the day.