$DXY, $EUR, $JPY, $GBP, $AUD
Commentary: How the USD/JPY market performs Monday and Tuesday could set the tone for the week, and maybe the month. PE
USD/JPY at 108.40 after the posting a low of 107.29 and close at 107.78 Friday. We need to see if the market runs into selling in the 108.70-90 into Tuesday. How the market performs in here will set the tone for the week, maybe the month.
The US Dollar (.DXY) Index at 91.49 has recovered a bit from the low of 91.13 seen Friday. If the bounce sustains, look for a test to 92.00-20 this week.
EUR (Euro) at 1.2016 saw some profit taking after the high of 1.2092 seen Friday. The overall uptrend persists, with intra-week supports seen at 1.1970, 1.1935 and 1.1895.
EUR/JPY at 130.28 is likely to trade sideways between 129.40 and 131.00 for now. Overall trend remains Bullish, while trading above 129.40-00.
Sterling (GBP) at 1.3180 saw a high of 1.3224 Friday, in line with expectation of 1.3270.
AUD (Aussie) at 0.8045 saw a spike up to 0.8125 Friday (target 0.82), but has not been able sustain the rally. I am still Bullish, but have to keep an eye on supports in the 0.8000-7965 area.
USD/CNY at 6.5052 saw a bounce on shot covering from just below 6.44. Have to watch for a couple of days if the bounce holds.
Have a terrific week.
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