Forex Morning Briefing, Major Pairs

Forex Morning Briefing, Major Pairs


Commentary: The Japanese Yen (JPY) is possibly the weakest currency just now. The cleanest currencies to trade just now looking like EUR and JPY. PE

EUR (Euro) 1.1393 seen to move towards 1.1460, possibly higher, with good support at 1.1360 and 1.1300.

The US Dollar (.DXY) Index at 96.10 is weak overall with decent chances of further decline to 95.50-40.

EUR/JPY at 130.10 likely to climb to 131 this week.

USD/JPY at 114.18 looks like it can rise to 115, with good support at 113.75. The continued rise in the US-Japan yield spread provides support to USD/JPY.

Sterling (GBP) at 1.2875 remains weak while below 1.2935, support at 1.2850-40 now. If that breaks see decline towards 1.2800-2750. So, the fall from the high of 1.3030 a couple of weeks ago could start slowing. Careful do not get trapped in a Short.

AUD (Aussie) at 0.7615 went to 0.7530 Monday, but the market appears a little uncertain in here. Support is seen at 0.7600-7575. Means that there could be spiky movement in the Aussie.

RMB Yuan (USD/CNY) at 6.8040 is weakening, with chances of further weakness towards 6.82, watch it.

Stay tuned…

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