Forex Morning Briefing

Forex Morning Briefing


Commentary: Noting new. PE

USD/JPY at 112.25 was the big mover Monday, falling on news of BOJ reducing it’s purchase of long-tenor bonds. This increases the chances of a fall to 110 over the next 2 weeks.

EUR/JPY at 134.07 fell from 136.65 a few days ago, that might have seen 138+. Now the Cross can dip towards 133.60 in the near term, which is a medium term channel Support on the weekly candles.

Note: a clear break below 133 could be a big game changer for all currency markets.

EUR (Euro) at 1.1942 is holding above the 21-Day MA Support at 1.1902. It has potential to start moving up again, either from current marks or from deeper down. If so, the Northside targets would be at 1.2150-2250.

Sterling (GBP) at 1.3533 is paused above 1st support at 1.3500 and may continue to trade sideways for a few more days within the overall uptrend.

AUD (Aussie) at 0.7819 it has dipped within the current. Further dip towards 0.7750 is possible, due to the new strength in JPY.

RMB Yuan (USD/CNY = 6.5288) may weaken further due to JPY’s strength or recoups some of its losses if .DXY weakens again.

Stay tuned…

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