As central banks around the globe are cutting their rates, easing economies as recession fears rise, the Bank of Japan decided to extend its bond purchase program.
This should in effect have the same impact on the USD/JPY as a rate cut, meaning the appreciation of the currency. However, the market reacts on expectations, and on this occasion those expectations were for a bigger repurchase plan than that actually proposed by the BoJ.

Oil closed on Friday at $86.38 a barrel and is trading at its high end of the current range between $85 and $87. It would be a great surprise to see any break of this range before the NFP is published this Friday.
Hurricane Sandy could pause trading and set some pressure on oil supply, but again this very strong trading range will definitely benefit technical traders since no break above or below is imminent.

Oil closed yesterday just above $86 a barrel and is trading in its mid trading range between $85 and $87 with good fundamental factors reported from the US economy, including less jobless claims and durable orders, meaning an appreciation in the price of oil.
Pending homes on the other hand grew less than expected, but still the price of oil is receiving much support from the $85.2 level.
Today we should expect GDP from the US to have climbed a predicted 1.9% since last quarter. Any surprise will strengthen its support level and push oil to its high end of the trading range.

Oil closed yesterday just below $86 a barrel, levels last experienced 3 months ago, and so is now receiving support only from its daily chart.
A trading range between $85 and $87 is very possible in the short term, at least until the upcoming election in the US. Global growth is still scarcely apparent and earnings from companies in Europe and the US have disappointed so far with indices in both continents dropping over the past few days.

Oil closed yesterday at $86.67 a barrel and is looking very bearish and targeting the next support level of $85 a barrel. Oil is at its lowest level since mid-July and will continue to decline if no news unfolds shortly.
It seems that no news is bad news for oil as growth is nowhere near the levels we have been accustomed to over the past few years, including Europe, the US, and BRIC countries. Investors and investment banks in particular are looking for new investments. Countries like Mexico, Turkey, and Indonesia could be the next best thing after the amazing growth records from the BRIC countries, especially China.