NOW! Psychology/Strategy for major markets today (FX EUR/USD/JPY/GBP, T.bonds, Equity)

*EUR/USD - US employment data has come and gone, now the focus will be on this week's EU summit, but the range is still 1.3250 to 1.3600.

*USD/JPY - Ranges are key while waiting for events to play out and 77.30 to 78.30 seems to have official support and exporter resistance.

*EUR/GBP, GBP/USD - Cable still in the shadow of EUR/USD, but EUR/GBP focus has switched from tentative support at 0.8525 to the upside targets starting at 0.8665.

*DJIA and SP - Payrolls fail to reignite bullish sentiment as the market shifts into neutral with Europe back on centerstage.

*T.BOND - Bulls not going down without a fight as supports remain well-defended; focus shifts to the ECB meeting and EU Summit.