Currency markets witnessed slight movements on Friday ahead of the release of the U.S. job report later on today, where it is expected that payrolls will soar by 536,000 in May, while unemployment will retreat to 9.8% from 9.9%. Upbeat data released this week along with the rebound in stocks is damping demand on the yen and dollar as refuges, but fears in markets due to debt concern is giving them support. The dollar fell against a basket of major currencies to 87.35 from the day's opening at 87.20 as seen by the dollar index on the daily charts.

With regard to the euro-dollar pair, it inclined earlier today to a high of 1.2215 but it stopped its advance as it approached resistance at 1.2331. The euro was boosted by the GDP data which showed that the economy expanded 0.2% in the first quarter while the fourth quarter reading was revised to 0.1% from 0.0%. However, the pair is facing downward pressure from the 4-hour and 1-hour charts causing it to retreat to 1.2127. Still, the 16-nation currency need more time to do a strong rebound after falling to four-year low last month as debt woes is lowering confidence in the European single currency. The pair reached a low of 1.2149 today while for the rest of the day the pair is predicted to move between support and resistance at 1.2135 and 1.2215 respectively.

As for the sterling-dollar pair, it rose on the daily charts but halted its surge when it touched a high of 1.4680. The decline on the 4-hour and 1-hour timeframes pulled the pair to 1.4629, where it is currently trading. Today, the U.K. lacked fundamentals but data released this week had shown improvement which is giving support to the sterling. Earlier today, the pair reached a low of 1.4602, while it is expected to move between support at 1.4600 and resistance at 1.4700.

Relative to the dollar-yen pair, it declined to 92.35 paring its advance in the last two sessions. The general sentiment in markets is providing support to the yen despite the political instability in Japan after the resignation of Prim Minister. The pair hit a high of 92.88 and a low of 92.32, whereas support is seen at 91.80 while resistance is at 92.80.