Indices Hold Steady in a Week of Economic Shifts

Friday brings more excitement with the highly anticipated Non-Farm Payrolls. Expected at 184,000, any deviation from this figure could sway the market significantly. Also on the radar is the Prelim University of Michigan Consumer Sentiment, projected at 62.

In currency markets, the Japanese Yen's strength is markedly impacting pairs like USD/JPY and AUD/JPY, both showing significant downtrends. Interestingly, despite this strength, there are signs of potential reversals, indicated by long tails in recent candlestick patterns. This suggests that the Yen's rally might be overextended, and a correction could be on the horizon.

Indices presented a mixed picture on Thursday, with attempts at correction observed. The flat nature of this correction indicates that bullish sentiment is still strong, and buyers remain active. This resilience in indices, especially in the U.S. markets, will be key to watch as we close out the week.

Commodities, particularly precious metals, experienced bearish trends. Gold's rejection at the crucial $2,070 mark has set a negative tone, with the price now potentially heading towards the psychological level of $1,900. Silver mirrors this sentiment, showing a consistent downtrend throughout the week.

Oil markets have been under pressure, with both Brent and WTI trending downwards. While there was a slight pause in the bearish momentum on Thursday, the overall outlook remains tilted towards further declines, with key support levels in sight.