Forex Morning Briefing

Forex Morning Briefing


Commentary: Keep an eye on the EUR/JPY. PE

EUR/JPY at 133.30 saw a low at 133 Thursday, it can bounce a bit to 133.70-90 near term, there are chances that it might break below the major Support at 133, then target 130 medium term.

A dip in EUR/JPY would be triggered and accompanied by a fall in USD/JPY at 111.44 over the coming days. The 2 together could push EUR at 1.1960 below 1.19.

Note: To prevent that happening the single currency needs to rise above 1.20 in here. Watch this carefully over the next 2 sessions.

USD/CNY at 6.5054 strengthened on news that Chinese officials are recommending a halt or reduce its purchases of US Bonds, a further rise is probable.

Sterling (GBP) at 1.3507 is calm amidst the volatility in other currencies and is likely to remain calm for a few more days.

AUD (Aussie) at 0.7875 did not fall below 0.7800 and has risen strongly Friday. This seems to be fresh strength that could drive AUD to 0.7950-8000 in here

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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