FX Update October 2nd

Data out today (Monaco time):

10:30 EZ producer prices August mm expected 0.4%
14:30 US average earnings mm September expected 0.20%
14:30 US non farm payroll September expected -180k
14:30 US unemployment rate mm September expected 9.8%
16:00 US factory orders mm August expected 0.30%
17:00 CAbudget balance July
***EUR***
EUR/USD (currently 1.4535), 50 pips lower, range overnight 1.4502-1.4546.
EUR/USD keeps feeling heavy, with irish vote on Lisbon treaty today (they voted NO already once), and turbulences on eastern zone (Romania and Poland).
Technically, EUR/USD is about to test a very important support level at 1.45 which once broken could send the pair much lower.
We still have a bearish view and revise our medium term target from 1.4400/50 down to 1.4300.
TRADING IDEA : SHORT EUR/USD 1.4610 (STOP 1.4690, PROFIT 1.4300)

***JPY***
USD/JPY ( 89.40), 60 pips lower than yesterday as Nikkey's negative performance is dragging USD/JPY lower.
Since USD/JPY has broken 90 support (lower band of descending channel), technicals suggest a test of 87 short term.
We remain sidelined for the moment but will monitor any decisive break of 89.00 on the downsides or 90.30 on the upsides.
TRADING IDEA : SHORT USD/JPY 89.00 Stop Entry (STOP 90.60, PROFIT 92.30)
TRADING IDEA : LONG USD/JPY 90.50 Stop Entry (STOP 89.90, PROFIT 88.50)
EUR/JPY (130.00) down 1 point on lower EUR/USD and USD/JPY.
The break of 130.50 support revives expectations of a lower EUR/JPY (127.00 once/if 129.50 gives way).
TRADING IDEA : SHORT EUR/JPY 129.35 Stop Entry (STOP 129.95, PROFIT 127.10)

***GBP***
Cable (1.5900), down 80 pips as Sterling keeps feeling the pressure.
Low was 1.5861 while 1.6010-20 was well offered yesterday.
We went short at 1.60 yesterday and still feel that momentum is strong enough for 1.57 and 1.54.
TRADING IDEA : SHORT GBP/USD 1.6000 (yesterday) (STOP 1.6050, PROFIT 1.5800)
EUR/GBP (0.9150), up 10 pips and finding some support around 0.9090.

*** CHF***
USD/CHF (1.0410) stable, as EUR/CHF resumed slide lower.
EUR/CHF 1.5130, 45 pips lower, feels all the more heavy since SNB's intervention failed to provide durable effect on CHF.
We shift our view from bearish CHF to neutral.

***XAU+OIL***
XAU 999 down 9$ as OIL lost half a point to 69.70 $.

Have a great weekend!