Forex Morning Briefing

Forex Morning Briefing

$DXY, $EUR, $JPY, $GBP, $AUD

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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